Meta Platforms is reportedly in talks with Anthropic, an AI startup, for a significant deal that could see Meta leasing up to $10 billion worth of computing power over two years. This arrangement, proposed by Anthropic in June, would involve monthly payments, although the terms are still subject to change, and both companies would have the option to exit early. This move signifies Meta's potential diversification beyond its advertising-centric business model and a foray into the growing market for AI computing services, competing with established cloud providers like CoreWeave and new entrants such as Nebius.
The discussions are still in their early stages and may not ultimately lead to a deal, partly because Meta traditionally has not operated a business selling its computing power. However, Meta's CEO, Mark Zuckerberg, had hinted at exploring cloud computing options at a shareholder meeting in May, noting frequent inquiries from firms interested in accessing Meta's AI models or spare computing resources. Earlier reports also suggested Meta was developing a cloud business to offer its excess computing capacity and host AI models for developers.
This potential lease agreement with Anthropic mirrors a similar strategy recently adopted by Elon Musk's SpaceX, which also struck a deal with Anthropic in May, allowing the AI firm to utilize SpaceX's data center capacity for approximately $1.25 billion per month through May 2029. Google also signed a deal with SpaceX for about $920 million per month for 32 months. Such deals highlight the intense and growing demand for computing resources within the AI industry, as companies race to develop and deploy advanced models like Anthropic's Claude Fable 5, leading to rivals forming agreements to secure the necessary infrastructure.
For Meta, leasing its computing resources could establish a new revenue stream, especially as it endeavors to catch up to leading AI models from competitors like OpenAI and Anthropic. This development comes amid a broader tech selloff, with Meta's shares paring some losses on the news. Anthropic, which is reportedly IPO-bound, declined to comment on the report, and Meta did not immediately respond to requests for comment. Reuters could not independently verify the report.
