Anthropic locks $9.1B, 20-year Texas compute deal with Riot Platforms
Anthropic, the AI company behind tools like Claude, just locked in a massive 20-year deal with Riot Platforms, a Bitcoin mining company now pivoting to AI data centers.
The $9.1 billion agreement gives Anthropic access to enough computing power from Riot's Texas facility to run about 143,000 homes, pretty wild!
After the news dropped, Riot's stock shot up 25%. While Riot kept its client's name quiet at first, sources confirmed it is definitely Anthropic.
Anthropic contract could reach $16.1B
This contract runs until 2048 and could stretch to $16.1 billion if extended.
It's all part of Anthropic's push to keep up with skyrocketing demand for its AI tech, following other big deals like $10 billion with Volta Infra and a huge commitment to buy computing power from Elon Musk's xAI.
Meanwhile, Riot Platforms is moving away from cryptocurrency mining and teaming up with AMD as it dives deeper into the booming world of AI cloud services.