Anthropic's $518B compute commitments are only 22% NVIDIA — TPUs take 53%
AccBalanced · x · 2026-10-25
Per Anthropic's draft IPO prospectus (as reported by Reuters, Sept 29), Anthropic is the only large compute buyer that isn't mostly NVIDIA and doesn't make its own chips: just 22% ($116B) of its $518B in compute commitments are NVIDIA, while TPUs account for 53% ($272B).
Breakdown by partner:
- Broadcom: $161.2B for Google TPUs (built by Broadcom), equipment leases, non-cancelable outside default
- Google: $111.1B for TPUs on Google Cloud, 7–10 year terms
- Amazon: $110B for Trainium on AWS, same terms as Google
- xAI (SpaceX): up to $84.5B for NVIDIA GPUs at Colossus, mostly cancelable with 90 days' notice
- Microsoft: $31.4B for NVIDIA GPUs on Azure (Nov 2026–May 2033)
- AMD: $20B+, with AMD also buying up to $5B of Anthropic stock
Author's take: even chip makers still buy mostly NVIDIA (Amazon 60%, Microsoft, Meta), and Google is the only true exception running on its own TPUs. Anthropic shows that for inference, non-NVIDIA chips are cheaper and work fine — expect others to follow its diversified setup.
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