Anthropic agrees to $35 billion cloud deal in Nvidia-backed arrangement

Anthropic has secured a $35 billion cloud-computing agreement with Lambda, backed by Nvidia, through an arrangement that gives Nvidia control of the lease for a new Texas data center being developed by Hut 8, according to people familiar with the deal. The facility in Nueces County is being built by Hut 8, which operates both Bitcoin-mining and data-center businesses. Nvidia agreed several weeks ago to secure capacity at the site and will hold the lease, while Lambda will use the facility to install Nvidia chips and provide cloud services to Anthropic. Lambda will purchase the Nvidia hardware and operate the computing infrastructure, with Nvidia also serving as an investor in the cloud provider. The amount Lambda will pay Nvidia to use the data-center space has not been disclosed. The multilayered deal illustrates Nvidia’s expanding role beyond selling AI chips. The company is increasingly helping emerging cloud providers obtain data-center capacity and financing, making it easier for customers such as Anthropic to secure large amounts of computing power. For Lambda, the arrangement provides a path to deliver a major contract without having to acquire the underlying data-center cap...