Anthropic Agrees $3.4 Billion Deal for 1.7GW of Gas-Fired Generators, FT Says

According to the FT, Anthropic secured the commitments in late September from OnePWR Solutions, a company based in San Antonio, Texas. The package also includes the engineering and construction capabilities needed to install the machines. At the reported price, the deal works out to roughly $2 million per megawatt of capacity, though that figure covers installation work as well as hardware.

The purchase gives Anthropic direct control over part of its own electricity supply, one of the tightest constraints on how fast AI developers can add computing capacity. The company has so far relied heavily on partners for power, chips, data centre buildings and land, and has disclosed nearly $900 billion in computing commitments running through 2045. Manufacturing lead times for large generators and turbines now stretch years into the future, and technology companies have increasingly gone around traditional suppliers to secure equipment.

The way the deal was put together reflects that shortage. OnePWR ordered the generators from Caterpillar about two years ago but needed financing to complete the purchase, the FT reported. Anthropic first planned to become a OnePWR customer, then chose to take over the existing equipment orders instead. Anthropic did not acquire OnePWR, and none of OnePWR's employees moved to the AI company, according to the newspaper.

Other large AI developers have made similar moves to lock in power. xAI, SpaceX's AI subsidiary, bought mobile gas turbines for $2 billion earlier this year, and Alphabet acquired the energy developer Intersect in late 2025.

Anthropic is itself a major SpaceX customer. Its monthly payments to lease computing capacity from SpaceX are expected to reach $3.1 billion by the end of the year, the FT reported.

The generator deal comes while Anthropic prepares for an initial public offering that could happen as early as November and would rank among the largest listings on record. Its infrastructure spending plans face financing questions: Blackstone has warned investors that the company might receive a junk credit rating rather than the investment-grade rating that had previously been expected.

On-site gas generation allows data centre operators to bring capacity online without waiting for grid connections, which in many US markets can take years. Several AI groups have turned to it as utilities struggle to keep pace with requests for new supply.

The reports did not say where the 1.7 gigawatts of generators will be installed or which of Anthropic's data centres they will serve, and the company had not published its own account of the deal.