How Much Has Anthropic Promised for AI Compute?

Ed Zitron says Anthropic has $430 billion in non-cancellable commitments with Amazon, Google, Microsoft, and Broadcom. The lab is not building its own compute. It agreed to rent data center capacity under a take-or-pay arrangement, so the bill is due whether the capacity gets used or not.

The commitments probably start next year and will cost Anthropic $75 to $100 billion a year within the next year or two, even if revenue does not grow. Anthropic only loses money. Operating expenses will be $100 billion plus in short order. Microsoft, a profitable company making $330 billion a year, has operating expenses of about $150 billion. Anthropic believes it will be the size of Microsoft soon and will grow to hundreds of billions of dollars of revenue in the next few years. The entire valuation comes down to making $200 billion a year in revenue in two years.

The S1 describes a company from before the commitments began and does not explain the projections. Without the revenue, Anthropic will not be able to pay.