Important news for our investors and readers. Anthropic has contracted $35 billion in computing power from Lambda. The Wall Street Journal reported this, citing sources; Bloomberg independently confirmed the deal. The capacity will be used for Claude models.
The site is the Beacon Point campus in Nueces County, Texas, with a capacity of approximately 350 MW. It is being built by Hut 8, a former Bitcoin miner converted to AI data centers; the first phase is scheduled for completion in the first quarter of 2027. NVIDIA leases the site, and Lambda installs the chips it purchases there and sells the compute to Anthropic.
NVIDIA has three roles in this deal: chip supplier, data center tenant, and provider shareholder—all at once. The manufacturer is completing the remaining steps to speed up the ramp-up.
The contract term, number of accelerators, and payment schedule are not disclosed. Lambda's revenue for the full year 2026 is expected to exceed $1.5 billion. The contract comes as the company is negotiating a round of up to $3 billion at a valuation of $12 billion and preparing to go public.
Anthropic is rapidly accumulating computing power. Five days earlier, it signed a $45 billion deal with Nscale, another provider with NVIDIA in its capital, and has been preparing for the IPO since June, when it filed a confidential prospectus with the SEC.
This once again confirms how scarce computing power is right now. After all, our first investment in Lambda was priced at ~$2 per share, and now the company's shares are trading above $40, and this is far from the limit in light of contracts and the upcoming IPO.