Anthropic, creator of the Claude AI assistant, has signed a $35 billion cloud-computing deal with Nvidia-backed Lambda for capacity at a Texas data center being developed by bitcoin miner Hut 8, The Wall Street Journal reported on Monday.

The agreement is Anthropic's second major cloud deal to emerge within days. Last week, Bloomberg reported that the AI company had agreed to spend $45 billion over six years to rent computing capacity from Nvidia-backed Nscale in West Virginia.

The commitments come as Anthropic races to secure enough computing power to meet growing demand for its AI products and prepares for a potential public listing. Anthropic confidentially filed for a U.S. IPO in June, shortly after raising $65 billion at a $965 billion valuation.

Anthropic has a revenue run rate of about $47 billion and expects revenue to reach between $190 billion and $200 billion in 2028, Reuters previously reported. That growth will require continued access to chips, data centers and large amounts of electricity.

OpenAI vs. Anthropic Revenue Run Rate

OpenAI vs. Anthropic Revenue Run Rate

  • OpenAI
  • Anthropic
As of 2026-07-31, Anthropic leads with an estimated annualized revenue run rate of $65.$80B$60B$40B$20B$0Jan '23Jan '24Jan '25Jul '26{"f":[360,150,40,8],"s":[["OpenAI","#16a34a"],["Anthropic","#ea580c"]],"p":[["2023-01-31T00:00:00.000Z","Jan '23",40,[[0,"$0.21B",127.7,null],[1,"$0.01B",127.99,null]],null],["2023-02-28T00:00:00.000Z","Feb '23",46.84,[[0,"$0.49B",127.3,null],[1,"$0.02B",127.98,null]],null],["2023-03-31T00:00:00.000Z","Mar '23",54.42,[[0,"$0.55B",127.21,null],[1,"$0.02B",127.97,null]],null],["2023-04-30T00:00:00.000Z","Apr '23",61.74,[[0,"$0.62B",127.11,null],[1,"$0.03B",127.96,null]],null],["2023-05-31T00:00:00.000Z","May '23",69.32,[[0,"$0.7B",127,null],[1,"$0.03B",127.95,null]],null],["2023-06-30T00:00:00.000Z","Jun '23",76.65,[[0,"$0.79B",126.87,null],[1,"$0.04B",127.94,null]],null],["2023-07-31T00:00:00.000Z","Jul '23",84.22,[[0,"$0.89B",126.73,null],[1,"$0.05B",127.93,null]],null],["2023-08-31T00:00:00.000Z","Aug '23",91.8,[[0,"$1B",126.58,null],[1,"$0.07B",127.91,null]],null],["2023-09-30T00:00:00.000Z","Sep '23",99.13,[[0,"$1.14B",126.38,null],[1,"$0.08B",127.89,null]],null],["2023-10-31T00:00:00.000Z","Oct '23",106.7,[[0,"$1.3B",126.15,null],[1,"$0.1B",127.86,null]],null],["2023-11-30T00:00:00.000Z","Nov '23",114.03,[[0,"$1.53B",125.83,null],[1,"$0.1B",127.86,null]],null],["2023-12-31T00:00:00.000Z","Dec '23",121.6,[[0,"$1.8B",125.44,null],[1,"$0.09B",127.87,null]],null],["2024-01-31T00:00:00.000Z","Jan '24",129.18,[[0,"$2.01B",125.14,null],[1,"$0.09B",127.88,null]],null],["2024-02-29T00:00:00.000Z","Feb '24",136.26,[[0,"$2.22B",124.84,null],[1,"$0.11B",127.85,null]],null],["2024-03-31T00:00:00.000Z","Mar '24",143.84,[[0,"$2.47B",124.47,null],[1,"$0.14B",127.81,null]],null],["2024-04-30T00:00:00.000Z","Apr '24",151.17,[[0,"$2.75B",124.09,null],[1,"$0.17B",127.76,null]],null],["2024-05-31T00:00:00.000Z","May '24",158.74,[[0,"$3.06B",123.64,null],[1,"$0.21B",127.7,null]],null],["2024-06-30T00:00:00.000Z","Jun '24",166.07,[[0,"$3.4B",123.15,null],[1,"$0.26B",127.63,null]],null],["2024-07-31T00:00:00.000Z","Jul '24",173.64,[[0,"$3.5B",123.01,null],[1,"$0.33B",127.53,null]],null],["2024-08-31T00:00:00.000Z","Aug '24",181.22,[[0,"$3.6B",122.87,null],[1,"$0.41B",127.41,null]],null],["2024-09-30T00:00:00.000Z","Sep '24",188.55,[[0,"$4B",122.3,null],[1,"$0.51B",127.27,null]],null],["2024-10-31T00:00:00.000Z","Oct '24",196.12,[[0,"$4.45B",121.65,null],[1,"$0.64B",127.09,null]],null],["2024-11-30T00:00:00.000Z","Nov '24",203.45,[[0,"$4.94B",120.96,null],[1,"$0.8B",126.86,null]],null],["2024-12-31T00:00:00.000Z","Dec '24",211.03,[[0,"$5.5B",120.16,null],[1,"$1B",126.58,null]],null],["2025-01-31T00:00:00.000Z","Jan '25",218.6,[[0,"$6B",119.45,null],[1,"$0.95B",126.65,null]],null],["2025-02-28T00:00:00.000Z","Feb '25",225.44,[[0,"$6.6B",118.6,null],[1,"$1.25B",126.22,null]],null],["2025-03-31T00:00:00.000Z","Mar '25",233.01,[[0,"$7.34B",117.55,null],[1,"$2B",125.15,null]],null],["2025-04-30T00:00:00.000Z","Apr '25",240.34,[[0,"$8.12B",116.42,null],[1,"$2.44B",124.52,null]],null],["2025-05-31T00:00:00.000Z","May '25",247.92,[[0,"$9.03B",115.13,null],[1,"$3B",123.73,null]],null],["2025-06-30T00:00:00.000Z","Jun '25",255.25,[[0,"$10B",113.75,null],[1,"$4B",122.3,null]],null],["2025-07-31T00:00:00.000Z","Jul '25",262.82,[[0,"$12.5B",110.19,null],[1,"$5B",120.88,null]],null],["2025-08-31T00:00:00.000Z","Aug '25",270.4,[[0,"$13.8B",108.34,null],[1,"$5.5B",120.16,null]],null],["2025-09-30T00:00:00.000Z","Sep '25",277.73,[[0,"$14.9B",106.77,null],[1,"$6.19B",119.17,null]],null],["2025-10-31T00:00:00.000Z","Oct '25",285.3,[[0,"$16.12B",105.03,null],[1,"$7B",118.03,null]],null],["2025-11-30T00:00:00.000Z","Nov '25",292.63,[[0,"$17.4B",103.21,null],[1,"$7.92B",116.71,null]],null],["2025-12-31T00:00:00.000Z","Dec '25",300.2,[[0,"$21.4B",97.51,null],[1,"$9B",115.18,null]],null],["2026-01-31T00:00:00.000Z","Jan '26",307.78,[[0,"$23.22B",94.91,null],[1,"$12.4B",110.33,null]],null],["2026-02-28T00:00:00.000Z","Feb '26",314.62,[[0,"$25B",92.38,null],[1,"$18.1B",102.21,null]],null],["2026-03-31T00:00:00.000Z","Mar '26",322.19,[[0,"$24B",93.8,null],[1,"$27.7B",88.53,null]],null],["2026-04-30T00:00:00.000Z","Apr '26",329.52,[[0,"$28.5B",87.39,null],[1,"$39.5B",71.71,null]],null],["2026-05-31T00:00:00.000Z","May '26",337.1,[[0,"$33B",80.98,null],[1,"$50.3B",56.32,null]],null],["2026-06-30T00:00:00.000Z","Jun '26",344.43,[[0,"$32B",82.4,null],[1,"$57B",46.78,null]],null],["2026-07-31T00:00:00.000Z","Jul '26",352,[[0,"$40B",71,null],[1,"$65B",35.38,null]],null]]}OpenAI: $40B on Jul '26. Anthropic: $65B on Jul '26
SOURCE: The Latent

Under the latest deal, Nvidia holds the lease on the Texas data center after securing the capacity from Hut 8, WSJ reported, citing people familiar with the deal. Lambda will use the facility and install chips bought from Nvidia. It is unclear how much Lambda will pay Nvidia to use the data center or whether Nvidia will receive a share of the revenue from the Anthropic deal.

Hut 8 said in July that an unnamed "high-investment-grade" company had signed a 15-year lease at its Beacon Point campus in Texas, but did not identify the tenant. WSJ now reports that the tenant is Nvidia.

Hut 8, historically a bitcoin miner, has been expanding into AI data centers. In December, it announced a separate partnership with Anthropic and Fluidstack to develop AI data center capacity in Louisiana. Those facilities will use Google's tensor processing units, which compete with Nvidia's chips, according to the WSJ. Google has also provided financial guarantees to help Hut 8 raise debt for the projects.