The deal would help Meta diversify its income streams
META Platforms is in talks to lease computing power to Anthropic in a potential deal worth up to US$10 billion over two years, according to a source familiar with the matter.
Shares of the social media giant pared losses slightly after the news and closed down more than 2 per cent amid a wider tech selloff on Friday (Jul 17). They were down marginally in extended trading.
Such a deal would help Meta diversify beyond advertising by generating revenue from its infrastructure and competing with neocloud firms such as CoreWeave and Nebius, as growing adoption of advanced AI tools boosts the need for computing capacity.
The Claude Code creator would pay Meta in monthly increments over the two-year period, although the terms remain subject to change, the source said, adding that the companies would be able to exit any agreement early.
IPO-bound Anthropic had proposed the deal in June and Meta is considering it, the source said, adding that the talks have become complicated since Meta does not have a business selling its computing power.
The discussions are in their early stages and may not result in a deal, according to the source.
Meta did not immediately respond to a Reuters request for comment, while Anthropic declined to comment.
The potential agreement echoes a strategy recently pursued by Elon Musk’s SpaceX, with whom Anthropic struck a deal in May to tap the full computing power of its Colossus 1 data centre in Memphis, Tennessee.
At Meta‘s shareholder meeting in May, CEO Mark Zuckerberg had said entering cloud computing was “definitely on the table”, noting that firms were approaching Meta “almost every week” to buy access to its AI models or spare computing power.
Earlier this month, Bloomberg News reported that Meta was building a cloud business to sell excess computing power and host AI models for developers. REUTERS
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