Anthropic Signs Multi-Year Cloud Deal With IREN as Data Center Bets Top $530 Billion, Report Says

Anthropic is accelerating its push to lock down artificial intelligence data centers, signing a multi-year cloud contract with neocloud provider IREN, The Information reported on October 11. The size and length of the contract were not disclosed.

The IREN deal is the latest in an aggressive leasing spree. Anthropic has now signed data center contracts totaling more than 15 gigawatts of capacity across more than 10 cloud providers, including Amazon Web Services and Google, reportedly worth about $530 billion over the life of the agreements.

The scale of the build-out is striking. Anthropic's computing capacity stood at 1.4 gigawatts last year. Under the signed contracts, it is expected to rise to 5 gigawatts this year, 9.5 gigawatts next year, and more than 15 gigawatts by 2028 — roughly the electricity draw of a major metropolitan area.

According to The Information, Anthropic is rushing because the faster servers come online, the more revenue they generate.

Investor and analyst estimates cited in the report suggest that using the entire 245-megawatt data center it is leasing in Louisiana for AI answer generation, or inference, just one month earlier than planned could bring in an additional $1.3 billion in sales.

The Louisiana facility is being developed by Hut 8 and operated by Fluidstack, and will run Google's tensor processing units starting in the second quarter of next year.

Infrastructure advisory firm Occam Edge estimated that if Anthropic spends about $200 million a month renting the facility's chips, the gross margin could reach 85 percent, before model training and labor costs.

Amazon and Google are believed to account for the bulk of the committed capacity — about 11 gigawatts and more than $300 billion of the estimated spend over roughly a decade, according to The Information's analysis, with Microsoft, AMD, SpaceX, and specialist providers including CoreWeave, Lambda, Nscale, and Fluidstack making up the rest.

The build-out is part of a wider arms race. Anthropic's annualized revenue run rate had climbed above $65 billion by July 2026, according to reports citing its IPO filing, while rival OpenAI has publicly targeted $750 billion in compute and 30 gigawatts of capacity by 2030.

On the back of this economics, The Information said Anthropic recorded a small profit in the second quarter of this year.

The numbers also underline how high the stakes have grown. Hundreds of billions in long-term leasing commitments can squeeze margins if demand growth slows, turning compute from a variable cost into a near-fixed one — which is why every week shaved off a deployment timeline now matters.