Amazon AMZN backed Anthropic is reportedly committing $35 billion to Nvidia-backed cloud provider Lambda in one of the largest AI-compute deals yet, underscoring how quickly the economics of artificial intelligence are shifting from model development toward infrastructure at massive scale. The agreement is another bullish signal for Nvidia NVDA and creates a potentially significant demand tailwind for Hut 8 HUT, which is developing the Texas data center supporting the project.
Anthropic develops the Claude family of AI models and applications, including the fast-growing Claude Code programming tool. The company generates revenue from consumer subscriptions, enterprise software and API access, and is preparing for a potential public listing later this year. Its annualized revenue run rate reportedly surpassed $65 billion in July, up from $47 billion in May.
Under the reported Lambda agreement, Anthropic will secure computing capacity at Hut 8’s Beacon Point campus in Nueces County, Texas. The facility involved has roughly 350 megawatts of capacity, with Nvidia expected to hold the data-center lease while its chips power Lambda’s infrastructure. Neither Anthropic, Nvidia, Lambda nor Hut 8 has publicly confirmed the arrangement.
The scale is striking because Anthropic reportedly agreed only days earlier to spend another $45 billion renting AI computing capacity from Nscale in West Virginia over six years. Combined, the two commitments represent roughly $80 billion of planned cloud spending as Anthropic races to support rising demand for Claude and compete with OpenAI.
Hut 8 is becoming an increasingly direct beneficiary of that infrastructure race. The company had 949 megawatts of contracted AI data-center capacity at the end of Q2, representing about $26.6 billion of expected base-term contract value and more than $1.75 billion of expected average annual net operating income.
Investors Takeaway
For Nvidia investors, the deal reinforces the enormous capital commitments still flowing toward accelerated computing, but it also raises questions about how much Nvidia is supporting the financing and leasing structures behind customers buying its chips.
For Hut 8, investors should watch Beacon Point construction progress, financing costs and contracted capacity coming online. For Anthropic, the central question ahead of its expected IPO is whether explosive revenue growth can justify compute commitments that are now measured in tens of billions of dollars. A successful public offering could validate those investments, while slower Claude adoption or infrastructure delays would make the spending burden much harder to overlook.