Anthropic strikes US$9 billion cloud deal with Riot Platforms

Anthropic has struck a US$9.1 billion deal with Riot Platforms, a Bitcoin mining company, to secure 191 megawatts of computing capacity from its Rockdale, Texas, campus over a 20-year term. The agreement, disclosed on Monday, is expected to generate US$9.1 billion in revenue for Riot, with options to extend the contract up to US$16.1 billion in total sales. Riot's shares jumped 25% to US$24.40 on the news, highlighting Anthropic's efforts to meet customer demand for its Claude AI tools.

Anthropic strikes US$9 billion cloud deal with Riot Platforms The move underscores the Claude maker’s efforts to secure enough computing to meet its customers’ demand SAN FRANCISCO Anthropic has struck a US$9.1 billion deal with Riot Platforms, a Bitcoin mining company that recently began selling artificial intelligence data centre capacity, people familiar with the matter said. The move underscores the Claude maker’s efforts to secure enough computing to meet its customers’ demand https://www.businesstimes.com.sg/companies-markets/anthropic-signs-computing-deal-spacex-meet-ai-demand . Riot disclosed earlier on Monday Aug 10 that it had secured a 20-year deal to supply 191 megawatts of computing – enough to power roughly 143,000 homes at any given moment – from its Rockdale, Texas, campus to a “leading frontier AI” company. That company is Anthropic, the people said, asking not to be identified discussing private information. Riot declined to comment. Anthropic did not respond to a request for comment. Riot’s shares jumped 25 per cent to US$24.40 in late trading on news of the deal with Anthropic. Anthropic has inked several deals with AI cloud computing suppliers in recent months to help shore up its computing needs after struggling to keep up with customer demand for AI tools. The developer recently signed a US$10 billion deal https://www.businesstimes.com.sg/startups-tech/technology/anthropic-inks-us10-billion-computing-deal-new-cloud-startup with a months-old infrastructure startup, Volta Infra, and agreed to buy nearly US$45 billion worth of computing from Elon Musk’s xAI in May. Riot Platforms said earlier on Monday that the agreement with the AI developer runs through June 2048 and that it expects the contract to generate US$9.1 billion in revenue. The deal also includes an option to extend the contract twice, by five years each, translating into as much as US$16.1 billion in total sales. Riot, once a maker of diagnostic machinery for the biotech industry operating under the name of Bioptix before dramatically shifting to Bitcoin mining, is one of several crypto firms now moving into cloud computing to capitalise on the AI boom. The developer has announced a separate deal with Advanced Micro Devices to build computing. Riot beat on sales in the second quarter in part because of its data centre business. BLOOMBERG Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services TRENDING NOW /pulse?ref=trending-now Firm loses wrongful dismissal case despite following termination clause Stocks to watch: UOB Kay Hian, ST Engineering, NetLink NBN, Ho Bee Land, F&N, Concord New Energy Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart Singapore raises 2026 growth forecast to 4.5-5.5%; Q2 growth revised up to 5.9%