Anthropic's $35 Billion Cloud Deal Comes With an Nvidia Twist

This article first appeared on GuruFocus.

Nvidia Corp. (NVDA, Financials), the leading artificial intelligence chipmaker, is taking a deeper role in Anthropic's latest infrastructure expansion than simply supplying GPUs.

Anthropic has signed a cloud-computing deal worth $35 billion with Nvidia-backed provider Lambda, according to The Wall Street Journal.

Nvidia will supply chips for the project and is also reportedly holding the lease on the Texas data center supporting the agreement.

The facility is being developed by Hut 8 in Nueces County, Texas. For investors, that structure is the bigger story.

Nvidia is increasingly using its financial strength to help secure infrastructure for customers that ultimately consume its chips. That can accelerate AI capacity growth, but it also means Nvidia is taking on a larger role in financing the ecosystem around its own products.

The arrangement shows how tightly linked AI chip demand, data-center construction and cloud financing have become.

Anthropic is one of the largest developers of frontier AI models, making the $35 billion commitment another sign that spending on AI infrastructure remains enormous.

The deal also gives Hut 8 exposure to one of the biggest announced AI cloud commitments in the market.

Investors will be watching whether Nvidia continues using its balance sheet and leasing arrangements to support other large AI customers as the industry races to add computing capacity.