Anthropic Plans Up to $750B in Compute Purchases, Filing Shows

Anthropic's draft IPO filing shows the AI company plans to spend about $450 billion on compute capacity over the next seven to ten years under existing agreements, with potential additional deals adding up to $150 billion, bringing total future compute spending to roughly $750 billion.

Under the agreements, Anthropic expects to pay Alphabet's Google Cloud approximately $111 billion, Amazon Web Services about $110 billion, and Microsoft roughly $31 billion. It has also agreed to rent Nvidia chips from Nscale and Lambda, with contracts running through 2033 and 2034 and a maximum cost of $86 billion. Combined with a separate agreement with Broadcom involving over $160 billion in Google chip lease obligations, total infrastructure commitments exceed $600 billion.

In the first half of the year, Anthropic spent nearly $9 billion on compute and infrastructure, up from $2.3 billion in the same period of 2025. Revenue reached about $16.3 billion, while net loss was $80.7 billion, largely driven by accounting charges related to convertible notes and other instruments. The company is expected to publicly file its IPO prospectus in the coming weeks.