Anthropic has secured a $35 billion computing agreement with Nvidia-backed Lambda to scale its AI infrastructure.

Anthropic has signed a $35 billion cloud-computing agreement with Lambda, an AI cloud provider backed by Nvidia. The deal marks another massive infrastructure commitment as the maker of Claude races to secure sufficient computing power to compete at the frontier of artificial intelligence. According to an exclusive report from The Wall Street Journal, the agreement centers on a data center under development in Nueces County, Texas, and places Nvidia in an unusually prominent role across multiple layers of the transaction. Nvidia will supply the chips powering the facility while also holding the lease on the underlying data center. Lambda, in which Nvidia is an investor, will provide the computing capacity to Anthropic. Reuters independently confirmed the $35 billion agreement, citing a person familiar with the transaction. The project represents roughly 350 megawatts of capacity.

Nvidia launched the financing model earlier this year to help AI cloud companies acquire its infrastructure. Under the program, Nvidia provides credit support while receiving revenue from hardware sales alongside a share of the revenue generated by cloud capacity. The company stated the structure was designed to make it easier for emerging AI providers to finance expensive data centers and computing systems. This strategy has attracted growing investor attention because Nvidia can appear on several sides of the same AI infrastructure transaction. The Anthropic agreement illustrates these increasingly interconnected relationships: Anthropic is backed by Nvidia, Lambda is backed by Nvidia, the computing infrastructure relies on Nvidia hardware, and Nvidia will hold the Texas data-center lease.

The structure emerges as Nvidia’s financial involvement in AI infrastructure continues to expand. Last week, The Wall Street Journal reported that the chipmaker had paused some revenue-sharing arrangements with AI cloud companies after employees raised concerns about potential regulatory scrutiny. Nvidia has disclosed $36 billion in commitments under agreements that typically run for six years, according to the Journal.

For Anthropic, however, the Lambda agreement is part of a much broader effort to diversify the enormous computing infrastructure required to train and operate Claude. The company already relies on Amazon’s Trainium chips, Google’s TPUs, and Nvidia GPUs. In April, Anthropic announced an expanded agreement with Google and Broadcom for multiple gigawatts of next-generation TPU capacity beginning in 2027. At the time, the company said its annualized revenue had surpassed $30 billion, up from approximately $9 billion at the end of 2025. Anthropic has also disclosed agreements for up to 5 gigawatts of capacity with Amazon, $30 billion of Azure capacity through a partnership with Microsoft and Nvidia, more than 300 megawatts from SpaceX, and a $50 billion U.S. infrastructure initiative with Fluidstack.