Anthropic and Riot Strike $9.1 Billion AI Computing Power Agreement

According to Bloomberg, sources familiar with the matter revealed that AI startup Anthropic has entered into a $9.1 billion AI data center computing power agreement with Bitcoin mining firm Riot Platforms to meet the growing computing needs of its Claude users. Riot disclosed Monday that it will supply 191MW of computing power at its Rockdale, Texas campus to an AI developer, with a 20-year contract term. The sources confirmed the client is Anthropic. Riot stated the contract will run through June 2048, generating an estimated $9.1 billion in revenue, with options to extend the term by five years twice. If fully exercised, the total contract value could reach up to $16.1 billion. Following the news, Riot’s shares rose 25% in after-hours trading to $24.40, per market data from BIT (bit.com). Anthropic has recently signed a series of large-scale computing power agreements. The firm previously inked a $10 billion deal with infrastructure startup Volta Infra Holdings, and in May agreed to purchase nearly $45 billion in computing power from Elon Musk’s xAI to ease pressure from surging client demand. Riot, which was previously focused on Bitcoin mining, is shifting to AI and cloud computing infrastructure like many other crypto mining firms. It also announced another computing power construction deal with AMD earlier, and its data center business contributed to revenue growth in the second quarter.