Anthropic is reportedly entering into a US$ 35 billion deal with Lambda, an NVIDIA-backed AI cloud infrastructure provider, as part of its push to expand compute capacity.
The news comes via people familiar with the matter who spoke with the Wall Street Journal this week. Said sources added that Hut 8, an infrastructure firm, was developing a data center in Nueces County, Texas, associated with the project. The lease at the data center is reportedly held by NVIDIA, although none of the parties have publicly commented on the matter.
Less than a week ago, w.media reported that Anthropic had, according to people familiar with the matter, entered into a US$ 45 billion lease with UK-based AI infrastructure firm Nscale to lease over 400 MW of AI cloud computing capacity in the US. The capacity would be located at Nscale’s West Virginia data center facility, which is expected to go live in 2027.
Lambda, meanwhile, is reportedly gearing up to launch its initial public offering (IPO). The company is said to be targeting a valuation of US$ 12 billion on the back of a US$ 3 billion funding round ahead of the potential IPO. In August, the company announced it had priced a US$ 926 million senior secured term loan B facility. The loan will support committed customer deployments and the expansion of Lambda’s GPU cloud platform.
As for the data center in Texas, Hut 8 has publicly confirmed it is developing a facility in Nueces County, Texas. In July, the company announced the commercialization of the second phase of the Beacon Point data center campus on the back of a 15-year, US$ 9.8 billion lease for 352 MW of IT capacity. Hut 8 described the tenant as a “high-investment-grade company that executed the Phase 1 lease” and offers no names. While reports suggest the tenant is NVIDIA, this is unconfirmed.
In August, NVIDIA announced plans to mobilize US$ 500 billion in third-party capital for the buildout of AI infrastructure. Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR have partnered with NVIDIA in this regard and aim to finance frontier AI labs, enterprises, and AI clouds that need AI infrastructure but don’t have the capital to build it quickly.
Anthropic is rumored to be preparing its IPO prospectus either this month or early in October. The Claude developer filed for a public listing confidentially earlier this year, starting a race to market against OpenAI. While investors are eager to back both firms, neither has publicly disclosed when their respective IPOs will launch.