Anthropic has committed to at least $518 billion in infrastructure spending over the next decade, according to its confidential IPO prospectus. The company filed for an IPO with the SEC in June 2026.
The largest obligation is a deal with Google, valued at at least $111.1 billion for services from April 2026 to July 2033. Amazon follows with a $110 billion commitment covering May 2026 through April 2036.
Microsoft holds a smaller portion of the commitments, totaling $31.4 billion. Approximately 80% of the total $518 billion in spending is non-cancelable, meaning Anthropic must pay regardless of usage.
Several agreements include shortfall clauses requiring Anthropic to cover the difference if actual spending falls below agreed thresholds. Ongoing negotiations could increase total commitments to between $600 billion and $750 billion.
