Anthropic, Riot in $9.1 billion AI power deal

Electrical substation next to data center symbolizing long-term AI power deal and energy revenues

Key Points

01Anthropic is identified as the AI customer in Riot’s (RIOT) new 20-year deal
02The contract covers 191 MW of capacity at Riot’s (RIOT) Rockdale, Texas site
03Riot (RIOT) expects about $9.1 billion in revenue from the agreement
04The term runs through June 2048, underscoring long-term AI demand

Long-term AI infrastructure pact

Anthropic PBC has been identified as the customer in a major new data center agreement with Riot Platforms Inc., a company known for bitcoin mining that has begun selling AI data center capacity. The contract pairs a leading AI developer with a large-scale infrastructure provider as demand for advanced computing resources continues to rise.

Riot disclosed that it executed a 20-year agreement to supply capacity from its Rockdale, Texas, campus to what it described as a leading frontier AI company. Subsequent reporting, citing people familiar with the matter, identified Anthropic as that previously unnamed customer.

Scale and terms of the Rockdale agreement

The deal covers 191 megawatts of capacity at Riot’s Rockdale facility, positioning the site as a substantial hub for Anthropic’s computing needs. The term of the agreement runs through June 2048, giving both companies long-term visibility on infrastructure usage and revenue.

Riot expects the contract to generate approximately $9.1 billion in revenue over the initial 20-year period. The size and duration of the arrangement place it among the larger recent commitments for dedicated AI data center capacity.

Strategic implications for Riot and Anthropic

For Riot, the Rockdale contract illustrates a strategic expansion beyond bitcoin mining into AI-focused data center services. By dedicating a significant portion of its Texas campus to AI workloads, the company adds a long-dated revenue stream tied to a single large customer.

For Anthropic, the agreement secures a substantial block of computing capacity as usage of its Claude AI tools grows. Locking in power and data center resources at this scale supports Anthropic’s ability to train and deploy increasingly demanding AI models over many years.

The transaction highlights a broader trend in which AI companies pursue multi-year infrastructure deals to meet their compute requirements, while data center and mining operators seek to capitalize on AI demand. The Rockdale campus, with its 191 megawatts committed under this contract, becomes a focal point of that shift.

Key Takeaways

01The 20-year Rockdale contract gives both Anthropic and Riot long-term certainty around AI compute capacity and revenue.
02Riot is formalizing a second pillar of its business by committing a large share of its Texas site to AI data center services.
03Anthropic’s move underscores how leading AI firms are locking in dedicated infrastructure to sustain the growth of advanced AI models.

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