Anthropic's Future Compute Costs Could Exceed $600 Billion

Anthropic's future computing costs could exceed $600 billion under a new draft of its IPO prospectus, underscoring the long-term demand its Claude service places on cloud and chip suppliers.

Potential costs could reach $750 billion in the coming years when arrangements still under negotiation are included. That total includes deals that have yet to be finalized.

An earlier draft outlined at least $518 billion in AI infrastructure spending over about a decade with six partners. The earlier draft characterized about four-fifths of the spending as obligations Anthropic could not cancel or would owe regardless of usage.

Anthropic’s 10-year commitment to Amazon Web Services exceeds $100 billion and covers as much as five gigawatts of compute capacity. A separate agreement with Google and Broadcom is expected to bring multiple gigawatts of chip capacity online starting in 2027. The AMD arrangement covers as much as two gigawatts of GPU capacity, with the initial gigawatt scheduled for deployment in the first half of 2027.

Anthropic submitted a confidential IPO registration to the SEC on June 1. It can pursue an offering after SEC review, depending on market conditions.