Anthropic signs $35 B Nvidia‑backed Lambda cloud deal using Hut 8's Texas data center

Anthropic has signed a six-year, $35 billion cloud-computing agreement with Lambda, an AI cloud provider backed by Nvidia, to secure additional compute capacity for its Claude models. The arrangement runs through three layers rather than a direct Anthropic-Nvidia or Anthropic-Hut 8 deal: Hut 8 Corp. (HUT), the Nasdaq-listed data-center developer, is building and leasing the physical site to Nvidia; Nvidia holds that lease and supplies the chips; and Lambda installs the hardware and resells the resulting computing capacity to Anthropic.

The capacity sits at Hut 8's Beacon Point campus in Nueces County, Texas, a site with up to 1 gigawatt of total utility capacity. Roughly 350 megawatts of that is allocated to this deal through one of two 15-year leases Hut 8 signed with Nvidia at the campus; together the two leases carry a combined base-term value of about $19.6 billion, with a potential $50 billion if three five-year renewal options are exercised. Hut 8 the company has a well-documented transformation story, pivoting from bitcoin mining into AI data-center development, but Beacon Point itself is a new build financed with $4.25 billion in Phase 1 construction notes rather than a repurposed mining facility, with Phase 1 energization targeted for Q1 2027.

Hut 8 shares rose as much as 4% in premarket trading after the news broke, and the deal drew renewed attention to bitcoin miners repositioning their power-rich sites for AI workloads, a trend industry observers have flagged as compute-intensive sectors converge. Separately, The Manufacturers Life Insurance Company disclosed a purchase of 44,793 Hut 8 shares, worth roughly $5.17 million, in a routine Q2 13F filing; that filing reflects second-quarter holdings and predates this announcement, so it is evidence of institutional exposure to Hut 8 rather than a reaction to the Anthropic deal.

The agreement is one leg of a much larger compute-buying push: Anthropic has now committed roughly $180 billion across capacity deals in the past five months, including more than $100 billion with Amazon Web Services and $45 billion with Nscale in West Virginia, alongside this $35 billion Lambda contract. That spread reduces how much any single site, including Beacon Point, matters to Anthropic's overall compute base. Analysts will be watching how quickly the Texas facility can be energized on schedule and whether Nvidia's growing role as a data-center lessor, not just a chip supplier, becomes a template other AI labs and miners replicate.

Related Stocks

• NVDA
• HUT