Anthropic reveals $900B AI spending commitments ahead of IPO

$900b contract spending / $30b = 30 years of revenue.

That’s wild. They have committed to absolutely insane growth with no margin for error.

> The filing directly discloses for the first time that Anthropic has agreed $895.4bn in purchase commitments and lease agreements for computing power and infrastructure, of which $447.5bn is expected to be incurred before the end of 2030.

So $448 billion committed, with unclear cancellation terms, through the next ~48 months.

Clearly this will be rising over time, but even a naive division results in $10bn per month of compute spending.

That honestly doesn't seem so bad relative to some of the claims I've seen? Their Q3 revenue is about $5.6bn per month and it's rising. They have so much money in the bank waiting to be deployed that they get a billion dollars of interest per year. Investors are desperate to put more money into the company.

They spend a lot on compute, but rolling it up into cumulative spend numbers makes it sound scarier.

The commitments are over 19 years, but they expect to spend half of that, $447.5bn, by the end of 2030 - so about $105bn per year for the first few years.

Their 2026 revenue looks like it will be ~$67bn so clearly they're anticipating continued significant revenue growth for this to make sense.

Pretty insane that sama's $7T target in 2024 wasn't that far off... https://www.wsj.com/tech/ai/sam-altman-seeks-trillions-of-do...

How much to power those data centers? It's kind of meaningless if you can't power them.

I'd also like to reveal a Chapter 11 restructuring of Anthropic in 2029 to cancel these contracts.

I mean, I can't reveal that because I'm just some schmuck. But I'd like to.

Discussion: https://news.ycombinator.com/item?id=50337439

Anyone have a non paywall link?

ohh boy, guess who's gonna pay for all of this ? Retail investors of course. VCs want to get out quickly hence the crazy valuation, institutionnal investors are already heavily positionned on this through energy, semiconductors and cloud actors ..

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