Anthropic has signed a $35 billion cloud-computing agreement with Lambda, an Nvidia-backed cloud provider, as the artificial intelligence company moves to rapidly expand its computing capacity.

The deal will give Anthropic access to infrastructure at a data centre being developed in Nueces County, Texas, highlighting the huge investment required to support growing demand for AI services.

The Texas facility is being developed by Hut 8, a company that has shifted from cryptocurrency mining towards AI data-centre infrastructure. The site is expected to have around 350 megawatts of capacity and will house computing infrastructure needed to support Anthropic’s AI models and products, including its Claude chatbot and Claude Code coding assistant.

The arrangement also highlights Nvidia’s expanding role across the AI infrastructure ecosystem. Nvidia is reportedly the tenant holding the lease on the Texas data centre and is supplying the chips used by Lambda.

This means Nvidia is positioned as a backer of Lambda while also benefiting from the demand for its AI processors generated by Anthropic’s growing computing requirements.

The latest agreement is part of a much larger infrastructure spending push by Anthropic. The company recently agreed to spend $45 billion over six years with Nscale for AI computing capacity in West Virginia. That facility is expected to provide around 460 megawatts of power capacity and will use Nvidia’s next-generation Vera Rubin processors.

Anthropic has also been expanding its infrastructure partnerships with other major technology companies as demand for its AI products grows. The company is preparing for a potential IPO, making access to sufficient computing capacity an important part of its growth strategy.

The deal also raises questions about the increasingly complex financing structures being used to build AI infrastructure. Nvidia’s involvement as an investor, hardware supplier and infrastructure backer has prompted some analysts to describe such arrangements as a form of circular financing, although Nvidia has defended its strategy as a way to support genuine demand for AI computing.

For investors, the key factors to watch will be Anthropic’s revenue growth, AI infrastructure spending, Nvidia’s financing commitments, data-centre utilisation and the sustainability of demand for advanced AI computing.

Overall, the $35 billion Lambda agreement shows that AI companies are entering a new phase where access to computing power is becoming as important as developing advanced AI models, while Nvidia continues to strengthen its position across the wider AI infrastructure ecosystem.

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