Meta is reportedly in discussions to lease computing power to Anthropic in a deal valued at up to $10 billion over two years, according to the New York Times. This arrangement would provide a new business avenue for Meta while assisting Anthropic in securing essential computing resources.
The proposal was initially made by Anthropic in June. Payments for the deal would be structured in monthly installments throughout the two-year duration, and either party would have the option to exit the agreement early. The deal’s size is notably smaller than a previous arrangement between Anthropic and SpaceX, which amounted to approximately $45 billion over three years at $1.25 billion per month.
Both companies have not commented on the ongoing negotiations, which remain in early stages and could potentially fall through. The urgency for such agreements comes from fierce competition among leading AI firms, including Meta, Google, and Microsoft, seeking to secure adequate computing power amid significant investments in data centers.
The substantial build-up of data centers has raised concerns among investors regarding the justification for these expenditures. Theo Jaffee from MTS stated that “Anthropic needs a lot of compute, and Meta has a lot of compute,” reflecting a potential alignment in operational needs between the two firms.
A deal could also alleviate shareholder concerns regarding Meta’s extensive infrastructure spending. Mark Zuckerberg reported that Meta is planning to spend as much as $145 billion this year, more than double the $72 billion spent the previous year. Despite this aggressive spending, doubts regarding the effectiveness of Meta’s AI models have surfaced, further fueling shareholder skepticism.
Looking to optimize its resources, Meta has considered leasing its excess capacity. Zuckerberg hinted during a May investor call that companies had expressed interest in purchasing computing power, which Meta had previously resisted, assuming internal needs would suffice. However, overbuilding would necessitate a shift in strategy to leasing out unused capacity.
The scarcity of computing resources has also led to collaboration among competitors. Anthropic, valued at around $1.2 trillion and preparing for an IPO, represents a growing demand for computing resources, particularly after launching their Claude Code model.
In addition to the potential deal with Anthropic, Meta is actively involved in other rental agreements, including a $21 billion deal with CoreWeave and a $27 billion agreement with Nebius. Rising prices for compute resources have prompted Meta to contemplate leasing out its own data centers in response to market demands.
