Anthropic says $518 billion AI buildout hinges on non-cancelable deals
The company said in a confidential IPO prospectus that about 80% of the commitments are payable regardless of use. It disclosed long-term spending plans with Google, Amazon, Microsoft and others.
About 80% of commitments are payable regardless of use Google, Amazon, Microsoft require $250 billion in minimum spending Anthropic says compute scarcity, not demand, will constrain AI By Echo Wang and Sabrina Valle NEW YORK, Sept 29 (Reuters) — Anthropic said it expects to spend at least $518 billion over a decade building AI infrastructure with six partners, according to a confidential IPO prospectus seen — a plan that ranks among the largest AI buildout commitments on record. The AI lab said in the prospectus that about 80% of that sum is non-cancelable or requires payment regardless of usage.
2 billion of Broadcom -related equipment lease obligations that are largely non-cancelable, according to the prospectus. Anthropic filed for an IPO confidentially with the Securities and Exchange Commission in June but its paperwork has not been publicly disclosed. Anthropic did not immediately respond to a request for comment about the filing. The company said it committed to pay Google between April 2026 and July 2033 and Amazon between May 2026 and April 2036.
"If our actual spend falls short, we must pay Google the difference," the company said, adding that similar terms apply to its Amazon agreement. " Anthropic also said the lease arrangements with Broadcom are non-cancelable by either party except in the case of a default. 5 billion of spending for Nvidia -based computing capacity through 2029 that are largely cancelable with a 90-day notice. The filing also showed a deepening relationship with Advanced Micro Devices, which committed to buying up to $5 billion of Anthropic stock and to supply AI computing capacity expected to exceed $20 billion.
The overall figure is comparable in scale to OpenAI's Stargate project, a $500 billion AI infrastructure plan whose costs are expected to be shared among OpenAI, SoftBank, Oracle and MGX. Shift To Own Infrastructure Anthropic said it is increasingly building its own AI infrastructure, shifting from a cloud-only model toward dedicated data centers and directly leased chips. It flagged a key risk in its dependence on Amazon, Google and Microsoft, which provide computing infrastructure and distribution while also developing rival AI models.
The company said the three tech giants occupy multiple roles at once as investors, customers, cloud providers, distributors and competitors, creating incentives that "may not be fully aligned" with Anthropic's interests. "If the compute we have access to from third parties is curtailed, repriced, or terminated... our business, financial condition, and results of operations could be adversely affected," it said. EXCLUSIVE-Anthropic warns AI may pose 'existential risks to humanity' in IPO filing...
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