Anthropic eyes Meta for a $10B compute lifeline as it prepares for a possible October IPO
Anthropic has pitched a major infrastructure deal to Meta Platforms: up to $10 billion worth of access to Meta’s computing capacity over two years, according to Reuters summarizing a New York Times report. The proposal — presented in June and now under review at Meta — would have Anthropic pay monthly for use of Meta’s data center and chip resources. Both sides would be able to exit the arrangement before the two-year term if needed, and talks have not produced a final, binding agreement.
Why it matters
For Anthropic, reliable, high-volume compute is mission-critical. Training and running state-of-the-art AI models requires massive fleets of specialized chips, steady power and data center space — resources that are scarce and fiercely contested across the tech industry. A lease with Meta would be a shortcut to scale without the upfront capital expense of building the capacity itself.
For Meta, the deal would turn part of its internal AI infrastructure into a revenue stream beyond advertising, placing it in direct competition with third-party compute providers such as CoreWeave and Nebius. If completed, the arrangement would mark a shift toward Meta selling capacity externally while continuing to build its own models and services.
Anthropic’s broader infrastructure strategy
The Meta talks are only one piece of Anthropic’s push to lock down compute. Earlier this month Anthropic inked a 20-year data-center lease with Bitcoin miner TeraWulf — a notable crossover between crypto miners and AI firms. That long-term agreement is intended to add more physical capacity to support Anthropic’s future model training and operations, highlighting how crypto-mining infrastructure is being repurposed or parceled out to meet AI demand.
Market context and IPO plans
Bloomberg reports Anthropic is actively prepping for a potential IPO, with banks arranging investor meetings that could support a public listing as early as October — timing that depends on market conditions and final decisions by the company. If Anthropic lists this year, it would likely be among the first major builders from the new wave of AI model developers to hit public markets, ahead of an OpenAI listing that Bloomberg says is being considered for 2027. China’s DeepSeek is also reportedly preparing for an eventual IPO.
Regulatory and product updates
Separately, Anthropic recently received U.S. government approval to restore limited access to its Mythos 5 model for selected companies and federal agencies, a development that adds another factor for banks and prospective investors to weigh as Anthropic lines up financing, infrastructure and market positioning.
Why crypto readers should care
The TeraWulf deal underscores a broader trend: crypto miners and data-center operators are increasingly monetizing excess capacity by serving AI workloads. That creates new revenue avenues for miners and a potential supply of large, colocated compute blocks for AI firms — while tightening competition for chips, power and rack space across industries.
Bottom line
Anthropic is aggressively assembling compute through both corporate leases and long-term data-center deals as it primes for a possible public debut. A $10 billion proposal with Meta — if finalized — would be a major milestone in the ongoing reshaping of how AI compute is bought, sold and reused across the tech and crypto economies.
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