Compute · the Ledger · Capacity contract
Anthropic commits to $30B of Azure compute; Nvidia to invest up to $10B and Microsoft up to $5B in Anthropic
Signed · announced 18 Nov 2025 · the week to 21 Nov 2025
- Size
- $30B
- Power
- 1 GW
$30B Azure purchase commitment; the up-to-1 GW of additional contracted capacity is on top of it.
The parties
- Anthropiccompany pageBuyer
- Microsoftcompany pageProvider
- NVIDIAcompany pageInvestor
- Microsoftcompany pageInvestor
The source
Anthropic announcement, 2025-11-18Company press release
Equity: Nvidia up to $10B, Microsoft up to $5B (ceilings). No valuation disclosed. Accelerator as stated: NVIDIA Grace Blackwell / Vera Rubin.
The same parties, other deals
- Anthropic commits $11.6B over seven years to Akamai Cloud for CPU workloads; Akamai issues Anthropic a warrant for up to ~5%$11.6B · 24 Sept 2026
- Nscale agrees to provide Anthropic dedicated GPU infrastructure at its Monarch Compute Campus for up to about $44.6B$44.6B · 18 Sept 2026
- NVIDIA agrees to buy $1.0B of Nscale convertible notes or non-voting shares within a $3.1B minimum subscription$1B · 18 Sept 2026
- Crusoe holds the initial closing of an anticipated $3.9B Series F at a $30.9B post-money valuation$3.9B · 17 Sept 2026
- ChronoScale and Microsoft sign a three-year partnership for about 50 MW of planned AI compute capacityundisclosed · 19 Aug 2026
- Nvidia gives SB Energy residual value guaranties, capped at $105B, on ~4.25 GW of Ohio data center leases to OpenAI$105B · 17 Aug 2026