Anthropic Commits Over $500 Billion to Cloud and Data Centers

Anthropic, an artificial intelligence lab, plans to spend $518 billion on cloud and data center obligations in the coming years. According to a draft of its initial public offering (IPO) prospectus, this includes more than $100 billion committed to Amazon Web Services (AWS), Amazon's cloud computing segment.

The commitment to AWS is for 10 years and amounts to around $10 billion per year, which would be about 7% of the $148 billion in sales that the segment pulled in over the 12 months through June. Anthropic reportedly spent less than this on compute and infrastructure from all suppliers combined in 2025 - $7.33 billion.

Anthropic's revenue is rising fast enough to cover its bills, with the company reporting $4.73 billion in revenue for the first quarter of 2026 alone, more than twice the first quarter of 2025. Second-quarter revenue then passed $11.5 billion, up over 14-fold from a year earlier.

However, there is a risk that Anthropic's revenue may not be enough to cover its commitments, as much of it comes from just two customers, and many of its biggest clients aren't locked into long-term contracts.