Anthropic sends clear message to Wall Street ahead of IPO

Anthropic has committed to spending approximately $45 billion over six years on cloud computing power from Nscale, a UK-based AI infrastructure firm. This agreement covers about 460 megawatts of power at Nscale's West Virginia data center, which will run on Nvidia's upcoming Vera Rubin chips, expected to be available in late 2027.

The deal is significant as Anthropic prepares to go public, potentially at a valuation of $2 trillion or more, making it the largest IPO in history. The company has also signed similar agreements with Volta for a data center in Norway and AMD, as well as a $1.25 billion monthly capacity arrangement with SpaceX. Anthropic's revenue growth has been impressive, surpassing OpenAI in quarterly revenue for the first time, with annualized revenue reaching over $65 billion.

However, the company faces the challenge of scaling its operations and securing sufficient computing resources to support its growth without incurring excessive costs. Investors will closely scrutinize Anthropic's financial projections and the reliability of its capacity deals during the IPO filing process.