Nueces County, Texas – August 31, 2026
Anthropic has signed a six-year, $35 billion cloud-computing agreement with Lambda, a cloud provider backed by Nvidia, to secure GPU capacity at a data centre under development in Nueces County, Texas, according to people familiar with the matter cited by Bloomberg and the Wall Street Journal. Anthropic, Lambda, Nvidia and Hut 8 did not respond to requests for comment. The facility is expected to provide approximately 350 megawatts of computing capacity for AI training and inference.
Deal Structure
The data centre, known as the Beacon Point campus, is being developed by Hut 8, a company that transitioned from cryptocurrency mining into AI data centre infrastructure. The 525-acre campus near Corpus Christi is targeting a total of 1 gigawatt of capacity, with initial energisation targeted for the first quarter of 2027. According to the Wall Street Journal, Nvidia itself holds the lease on the data centre, with Lambda installing Nvidia chips at the facility for Anthropic’s use, a structure that positions Nvidia as both a GPU supplier and, according to these reports, the anchor tenant underwriting the site’s financing.
Hut 8 disclosed in July 2026 that it had signed two identical 15-year, triple-net leases of 352 megawatts each for the campus, with a base-term value of $9.8 billion per lease and a 3% annual escalator, without naming the tenant at the time. Combined with renewal options, the total potential lease value has been reported to approach $50 billion.
Part of a Broader Pattern of Compute Commitments
The Lambda agreement is one of several large computing-capacity deals Anthropic has signed in 2026. The company agreed to spend $45 billion on renting capacity from Nscale’s West Virginia data centre campus the week prior and has separately signed agreements worth $50 billion with cloud provider Fluidstack and $45 billion with SpaceX, alongside existing capacity arrangements with Amazon Web Services, Akamai and CoreWeave. Anthropic’s cumulative compute commitments across these agreements have been reported at approximately $180 billion.
Anthropic’s annualised revenue run rate topped $65 billion by the end of July 2026, according to Bloomberg, and the company is reportedly preparing for an initial public offering. Salesforce holds a stake in Anthropic valued at approximately $5 billion, built through repeated investments across multiple funding rounds.
Grid Capacity Context
Texas has paused new data centre power connections amid rising concerns about grid demand, a development reported to potentially affect how quickly the Nueces County site reaches full operating capacity. The pause reflects broader pressure on regional power grids as large-scale AI data centre construction accelerates across multiple US states.
Industry Context
Rising demand for generative AI services has driven technology companies to commit hundreds of billions of dollars to data centre infrastructure equipped with advanced chips, with reports noting this demand is also placing pressure on chip supply chains extending into other sectors, including consumer electronics.