AI compute ledger
AI compute commitments tracker: who owes whom for AI
120 disclosed deals, talks, and plans for chips, cloud capacity, and data centers, by who pays and who gets paid.
120Deals listed
$1,565BCompute contracts signed
$65BAnnounced or in talks
$173BData center leases signedUpdated · ledger as of Nov 3, 2026
Anthropic's Nov. 2 filing puts its committed spending at about $895.4 billion. The signed compute contracts listed here add up to $1.57 trillion at face value, including up-to caps, of which $24 billion rests on press reports alone.
What the filers themselves report
These are company-level figures in each filer's own words, except OpenAI's, which come from an executive and from press reports because OpenAI has no public filing. Big Tech figures cover the whole company, not just AI. None of them are added to the contracts below.
| Company | What it reports | Amount | As of | Source |
|---|---|---|---|---|
| Anthropic | Aggregate committed spend (purchase commitments and lease agreements, including short-term commitments, as well as leases not yet commenced)DetailsAs of and after Sept. 30, 2026. Substantially all compute and infrastructure. Made up of its contractual obligations table ($320.0B), leases not yet commenced ($451.2B), commitments after Sept. 30 ($100.2B), and $24.0B of short-term commitments. Excludes an estimated $150B to $175B with no fixed dollar commitment. | $895.4B | Sep 30, 2026 | Source |
| Anthropic | Portion of aggregate contractual obligations subject to exercisable termination rights or contingent conditions prior to commencementA part of the total, not an addition. Conditions include the counterparty's ability to get financing, facilities, or regulatory approvals. | $213.8B | Sep 30, 2026 | Source |
| OpenAI | Forecast spending on computing power and infrastructure by the end of 2030DetailsA projection from a company presentation, reported by the FT on Sept. 18, 2026. The WSJ reported about $750B in July, and CNBC reported about $600B in February. Not confirmed by OpenAI. | $856B | n/d | Source |
| OpenAI | Commitments of about $1.4 trillion over the next 8 yearsSam Altman's word is "commitments." No breakdown given, and not a filed figure. | $1,400B | n/d | Source |
| Alphabet | Material purchase commitmentsDetailsCompany-wide. $802.1B is multi-year commitments for technical infrastructure and inventory, energy, and content; the rest is primarily open purchase orders. Alphabet says the $802.1B reflects maximum contractual limits on pricing and volumes. | $924.4B | Sep 30, 2026 | Source |
| Meta | Non-cancelable contractual commitmentsCompany-wide. Mostly third-party cloud capacity, servers and network infrastructure, data center energy, and Reality Labs hardware. | $454.5B | Sep 30, 2026 | Source |
| Microsoft | Additional leases, primarily for datacenters, that had not yet commencedCompany-wide. Primarily data centers. Some are subject to contractual conditions. Was $329.1B at June 30, 2026. | $364.6B | Sep 30, 2026 | Source |
| Oracle | Additional lease commitmentsCompany-wide. Filer says substantially all related to data center arrangements. Was $260B at May 31, 2026. | $288B | Aug 31, 2026 | Source |
| Amazon | Leases not yet commencedCompany-wide. Does not break out data centers from other facilities. | $164.9B | Sep 30, 2026 | Source |
| SpaceX | Unconditional obligations (non-cancelable contractual commitments)Primarily AI infrastructure and third-party cloud capacity, plus the spectrum transaction. Excludes the Apollo commitment, signed after the period. | $37.84B | Sep 30, 2026 | Source |
10 more company-level figures
| Company | What it reports | Amount | As of | Source |
|---|---|---|---|---|
| Anthropic | Contractual obligations table, TotalOperating leases, finance leases, and purchase commitments. | $320B | Sep 30, 2026 | Source |
| Anthropic | Leases executed and not yet commenced, future undiscounted lease obligationsDetailsSome of these leases are subject to termination rights or contingent conditions before they start. Was $50.2B at Dec. 31, 2025 and $321.4B at June 30, 2026. | $451.2B | Sep 30, 2026 | Source |
| Anthropic | Commitments entered into after September 30, 2026, aggregate future minimum payment obligationsNew and amended arrangements, primarily data center leases and cloud hosting. No deals named, and some are contingent. | $100.2B | Nov 2, 2026 | Source |
| Anthropic | Estimated payments under arrangements with no fixed dollar commitment (table footnote 5)An estimate of about $150B to $175B, outside the total. The footnote names no deals; the further TPU compute and AMD systems match its description. | n/d | Sep 30, 2026 | Source |
| Meta | Operating and finance leases that have not yet commencedCompany-wide. Data centers, energy infrastructure, colocations, and network infrastructure. Not on the balance sheet. | $355.7B | Sep 30, 2026 | Source |
| Meta | Contingent obligations to purchase cloud capacityUp-to figure over five years; may fall if the provider sells the capacity elsewhere. Provider not named. | $14.72B | Sep 30, 2026 | Source |
| Microsoft | Purchase commitmentsCompany-wide. Primarily data centers, including open purchase orders and take-or-pay contracts. From the annual table; the Q1 10-Q does not update it. | $194.1B | Jun 30, 2026 | Source |
| Alphabet | Future payments for leases not yet commencedCompany-wide. Primarily data centers and energy infrastructure. | $130.5B | Sep 30, 2026 | Source |
| Amazon | Unconditional purchase obligationsCompany-wide. Energy, digital media content, and software. Property and equipment commitments sit on a separate line. | $94.76B | Sep 30, 2026 | Source |
| Oracle | Unconditional purchase and certain other obligations with terms of one year or greaterCompany-wide. Primarily components for cloud infrastructure and data center power. Excludes obligations under one year. | $34.15B | Aug 31, 2026 | Source |
Anthropic's contracts
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Broadcom and financing entities | Five-year master equipment leases for TPU-based AI hardware, total rentTerm: Five-year leasesDetailsTotal rent, excluding interest. Broadcom has assigned parts of the leases to financing parties; Anthropic says that did not raise its rent. Non-cancelable by either party except by the lessor on a default. Press reports describe a $63B bank-and-Blackstone financing of a vehicle for chips leased to Anthropic; Broadcom's 8-K gives residual value support of up to about $43B and names neither Anthropic nor the $63B. | about$161.2B | Nov 2, 2026 | ActiveNon-cancelable | Our report Filing |
Google Cloud compute, with a minimum spend regardless of usageTerm: April 2026 to July 2033DetailsFigure rose from $114.5B in the Oct. 26 S-1 to $121.3B in the Nov. 2 S-1/A. A shortfall is paid to Google as a true-up, subject to certain adjustments and exceptions. Non-cancelable except on Google's uncured material breach. | at least$121.3B | Nov 2, 2026 | AmendedNon-cancelable | Our report Filing | |
| SpaceXAI (SpaceX) | Access to compute on Nvidia GPUs under several agreementsTerm: Terms extending into 2029DetailsA cap, not a minimum. Rose from up to $84.5B and $2.37B a month in earlier drafts. Initial non-cancelable periods end in January and March 2027; after that either party can cancel on 90 days' notice. | up to$120.5B | Nov 2, 2026 | AmendedPartly cancelable | Our report Filing |
| Amazon | Minimum spend on AWS compute, regardless of usageTerm: May 2026 to April 2036DetailsSigned April 2026. A shortfall is paid to Amazon as a true-up, subject to certain adjustments and exceptions. Non-cancelable except on Amazon's uncured material breach. | at least$110B | Nov 2, 2026 | SignedNon-cancelable | Our report Filing |
| Fluidstack | Custom data centers in Texas and New York, with more sites plannedDescribed as an investment, not a contract value, and it may overlap the site leases on this page, so it is not added to any total. | $50B | Nov 12, 2025 | Announced | Release |
| Nscale | Possible second 460 MW lease at the same West Virginia siteDetailsOutlets differ: DCD says a second contract of about $45B was signed in October, while TNW says it was still in talks. Anthropic's Nov. 2 S-1/A names only the August contract, and its $100.2B of post-Sept. 30 commitments names no deals. | about$45B0.46 GW | Oct 20, 2026 | In talks | Our report Press report |
| Microsoft | Minimum spend on Azure compute, regardless of usageTerm: November 2026 to June 2033Rose from $31.4B in earlier drafts. Non-cancelable except on Microsoft's uncured material breach or, per tranche, for undelivered tranches. | at least$44.9B | Nov 2, 2026 | AmendedNon-cancelable | Our report Filing |
| Nscale | GPU services on Nvidia Vera Rubin systems at the Monarch campus in West VirginiaTerm: Terms extending into 2033DetailsFour agreements. Fees accrue only as capacity is delivered and accepted, and a tranche can end if delivery is missed. Nscale said on Sept. 18 it had no binding financing commitments. Late-October press says Nvidia is in talks to backstop the financing. The 460 MW is a press figure. | up to$44.6B0.46 GW | Aug 25, 2026 | SignedPartly cancelable | Our report Filing |
| Lambda | Compute on Nvidia GPUs under agreements from May, June, and August 2026Term: Terms extending into 2034DetailsUnder the August agreement, about $34.9B of the total, either party may terminate if Lambda does not timely secure the facility lease. Otherwise non-cancelable except on Lambda's uncured breach or in limited circumstances. | about$41.3B | Nov 2, 2026 | SignedPartly cancelable | Our report Filing |
| Akamai | Dedicated cloud capacity for CPU workloads under Project Plans 2 and 3Term: 7 years for each plan, from its service startDetailsCould grow by up to about $9B, to about $20B in total, per Akamai. Anthropic can terminate on a material uncured breach, a change of control to a direct competitor, or per plan on a material outage. Akamai issued Anthropic a warrant. | about$11.6B | Sep 18, 2026 | SignedPartly cancelable | Our report Filing |
| Volta | Reported six-year compute deal, with capacity in Norway developed by BitdeerTerm: 6 yearsDetailsPress only; neither company has confirmed. TechCrunch reports Norway and 133 MW without naming a site. Bitdeer puts 121 IT MW, about 133 gross MW, at Tydal for a Volta subsidiary whose customer is a leading AI lab, so the link is inferred from the matching figures. | $10B | Aug 4, 2026 | Signed | Our report Press report |
| Meta | Possible lease of Meta computing capacityTalks as of July. No report found that it was signed, and Meta's Q3 10-Q does not name Anthropic. | about$10B | Jul 17, 2026 | In talks | Our report Press report |
| Akamai | Seven-year Cloud Infrastructure Services commitment from a frontier model provider, identified by Bloomberg as AnthropicTerm: 7 yearsDetailsAkamai disclosed the $1.8B but named no customer; Bloomberg identified Anthropic. Akamai's September 8-K confirms a May 5, 2026 agreement with Anthropic and says the $11.6B covers Plans 2 and 3 only, so this reads as separate. No filing says it is Plan 1. | $1.8B | May 7, 2026 | Signed | Filing |
| AMD | Helios rack-scale systems with MI450 GPUs, an initial tranche in 2027Term: No fixed term; initial tranche in calendar 2027DetailsAnthropic expects more than $20B if it buys the full initial tranche, but no contract value is stated. It may buy through approved manufacturers or third-party providers, so AMD may not be the payee. The S-1/A gives no GW figure; AMD's release says up to 2 GW, so the 2 GW exceeds this tranche. The commitment is conditional on deployment terms Anthropic can waive, and is non-cancelable by Anthropic except on AMD's uncured material breach. Its footnote puts arrangements with no fixed dollar commitment outside the $895.4B. | n/d2 GW | Jul 22, 2026 | SignedPartly cancelable | Our report Filing |
| Broadcom and Google | About 3.5 GW of next-generation TPU compute accessed through Broadcom from 2027Term: Beginning in 2027Broadcom says consumption depends on Anthropic's continued commercial success. No dollar value. | n/d3.5 GW | Apr 6, 2026 | Signed | Our report Filing |
11 more: no stated size, under $1 billion, ended, or covered by a row above
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Google or a third-party TPU provider | Additional TPU compute with no fixed dollar commitment, by Google hosting, direct purchase, or third-party leaseTerm: Delivery expected 2028 to 2031DetailsNo fixed dollar commitment. Anthropic estimates about $125B to $150B, outside its contractual obligations table. Its footnote puts arrangements with no fixed dollar commitment outside the $895.4B. | n/d | Nov 2, 2026 | Signed | Our report Filing |
| NTT Data | Possible first dedicated Japan data center, in OsakaNo amount: Nikkei's $6.3B is a construction cost, not what Anthropic would pay. | n/d | Oct 13, 2026 | In talks | Our report Press report |
| IREN | Reported unannounced multiyear cloud dealTerm: MultiyearDetailsReported by The Information; no value given, and neither company has confirmed it. IREN's 10-K says it signed a multi-year contract with a leading frontier AI lab in August 2026 without naming it or saying this is that contract. | n/d | Oct 11, 2026 | Announced | Our report Press report |
| CoreWeave | Multi-year cloud compute agreement to support ClaudeTerm: Multi-yearValue undisclosed. Not named in Anthropic's S-1/A. | n/d | Apr 10, 2026 | Signed | Filing |
Expanded Google Cloud use, up to one million TPUsDetailsStated only as tens of billions of dollars and well over a gigawatt. The S-1 dates its Google agreement to March 2026 and does not say how this earlier expansion relates to it. | n/d | Oct 23, 2025 | Announced | Release | |
| Reported five-year commitment to Google cloud and chipsTerm: 5 years, as reportedPress figure the S-1 does not state. The filing gives $121.3B fixed plus the separate estimate for additional TPU compute.Covered by another row on this page, so not added again. | $200B | May 5, 2026 | Announced | Press report | |
| Broadcom and financing entities | The 2026 Lease Arrangement, the largest of the Broadcom equipment leasesTerm: 5 yearsPart of the $161.2B lease row. Broadcom assigned part of the equipment to a financing entity in October 2026.Covered by another row on this page, so not added again. | about$125.2B | Mar 31, 2026 | ActiveNon-cancelable | Our report Filing |
| Amazon | April 2026 AWS expansion announcement, up to 5 GWTerm: 10 yearsAmazon says more than $100B over 10 years. Same deal as the $110B row, which has the exact minimum. The 5 GW is an up-to figure.Covered by another row on this page, so not added again. | at least$100B5 GW | Apr 20, 2026 | Signed | Release |
| Lambda | August 2026 Lambda agreement, about $34.9B of the $41.3B totalTerm: Terms extending into 2034DetailsPart of the $41.3B row. Either party may terminate if Lambda does not timely secure the facility lease. Probably the $35B deal in the press; that match is an inference, since the S-1/A does not name the site. | about$34.9B | Aug 2026 | SignedPartly cancelable | Our report Filing |
| Microsoft | Original Azure purchase, plus additional capacity of up to one gigawattThe original deal, now part of the $44.9B row. The 1 GW is an up-to figure.Covered by another row on this page, so not added again. | $30B1 GW | Nov 18, 2025 | Amended | Our report Release |
| SpaceX (xAI) | Original Colossus and Colossus II cloud services agreements, about 325,000 Nvidia GPUsTerm: Through May 2029The original agreements, now part of the $120.5B row. Disclosed as a monthly fee. Either party can cancel on 90 days' notice after the initial period.Covered by another row on this page, so not added again. | n/d | May 2026 | AmendedPartly cancelable | Our report Filing |
OpenAI's contracts
OpenAI has no public filing, so these rows come from suppliers' filings, company releases, and press reports.
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Oracle | Oracle cloud capacity for OpenAI: up to 4.5 GW of additional Stargate data center capacity in the USTerm: about five yearsDetailsOpenAI's wording is that the deal "exceeds $300 billion." Oracle's filings never name OpenAI. Oracle said in March 2026 the 4.5 GW leasing was complete. No report found that the contract was cut. | at least$300B4.5 GW | Jul 2025 | Signed | Our report Release |
| Microsoft | Incremental purchase of Azure services under the October 2025 restructuringDetailsOn top of earlier Azure spending; no term stated. The April 2026 amended agreement ended cloud exclusivity and capped revenue share; Microsoft's post on it does not mention the $250B. | $250B | Oct 28, 2025 | Signed | Our report Filing |
| Amazon (AWS) | Expansion of the AWS agreement, including about 2 GW of Trainium capacityTerm: 8 yearsThe increase only, on top of the $38B. Amazon does not state a combined total. | $100B2 GW | Feb 27, 2026 | Signed | Filing |
| Amazon (AWS) | AWS compute: hundreds of thousands of Nvidia GPUs, with the ability to scale to tens of millions of CPUsTerm: seven yearsSeparate from the $100B expansion. All capacity was targeted for deployment before the end of 2026. | $38B | Nov 3, 2025 | Amended | Release |
| CoreWeave | Cumulative CoreWeave contract value after a third order of up to $6.5B through May 31, 2031Term: latest order through May 31, 2031Includes a third order of up to $6.5B. Either party may terminate for cause. | up to$22.4B | Sep 23, 2025 | SignedPartly cancelable | Release |
| Cerebras | 750 MW of committed AI inference compute capacity and related services, with an option on 1.25 GW moreTerm: three or four years, extendable by OpenAI to fiveDetailsOpenAI is contractually committed to the 750 MW, deployed in tranches from 2026 through 2028, with an option for up to 2 GW in total by the end of 2030. OpenAI may terminate part or all if Cerebras misses delivery or service levels. | at least$20B0.75 GW | Dec 2025 | SignedPartly cancelable | Our report Filing |
| Nvidia | Use of 3 GW of dedicated inference capacity and 2 GW of training on Vera Rubin systems3 GW plus 2 GW, as stated. No contract value or binding language given. | n/d5 GW | Feb 27, 2026 | Announced | Release |
| Broadcom | 10 GW of OpenAI-designed custom accelerators and Broadcom networking racksTerm: start second half of 2026, complete by end of 2029A term sheet, not a stated binding purchase contract. Broadcom's 10-Q for Aug. 2, 2026 does not name OpenAI. | n/d10 GW | Oct 13, 2025 | Announced | Our report Release |
| AMD | Up to 6 GW of AMD Instinct GPUs across generations under a product purchase agreement; only the first 1 GW is a binding purchase commitmentTerm: multi-year; first 1 GW begins second half of 2026DetailsBinding on the first 1 GW only, which is the figure shown; AMD says OpenAI intends to deploy up to 6 GW. No dollar value stated and no cancellation terms given. | n/d1 GW | Oct 5, 2025 | Signed | Our report Filing |
| Nvidia | Letter of intent to deploy at least 10 GW of Nvidia systemsTerm: first 1 GW targeted for second half of 2026DetailsLetter of intent only. Nvidia's 10-K in February 2026 still said "there is no assurance" of an agreement; its August 2026 10-Q no longer has that language and refers to OpenAI only on its guarantees for the PORTS-Pike campus leases. | n/d10 GW | Sep 22, 2025 | Announced | Our report Release |
6 more: no stated size, under $1 billion, ended, or covered by a row above
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Planned purchase of Google TPU chipsReported as a plan; no signed deal, quantity, or value. | n/d | Oct 27, 2026 | In talks | Our report Press report | |
| Nscale | Stargate Norway: OpenAI as initial offtaker of a planned 230 MW site in Narvik; OpenAI withdrew in April 2026No binding contract was stated. Nscale's S-1 says OpenAI withdrew from Stargate Norway in April 2026 and Microsoft took the capacity. | n/d0.23 GW | Apr 15, 2026 | Terminated | Filing |
| Oracle / Crusoe | Planned expansion of the Abilene, Texas Stargate campus by about 600 MW, from 1.2 GW toward 2 GW; dropped before any lease was finalDetailsNever signed; terminated here means the plan ended. Bloomberg's Ed Ludlow said the companies were not moving ahead with the expansion lease, while the separate 4.5 GW agreement remained on track. | n/d0.6 GW | Mar 6, 2026 | Terminated | Press report |
| Google Cloud | Google Cloud computing capacity for training and running OpenAI modelsNo party confirmed a binding contract, and no value was reported. | n/d | Jun 10, 2025 | Announced | Press report |
| CoreWeave | Initial CoreWeave cloud capacity contractTerm: through October 2030Part of the $22.4B cumulative row. OpenAI may terminate all or part if CoreWeave repeatedly misses availability requirements.Covered by another row on this page, so not added again. | up to$11.9B | Mar 2025 | SignedPartly cancelable | Filing |
| CoreWeave | Additional CoreWeave cloud capacity contractTerm: through April 2029Part of the $22.4B cumulative row. Either party may terminate for cause.Covered by another row on this page, so not added again. | up to$4B | May 2025 | SignedPartly cancelable | Filing |
Meta's contracts
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Nebius | $12B of dedicated Vera Rubin capacity, plus up to $15B of other capacity Meta must buy only if Nebius does not sell it to third partiesTerm: 5 yearsDetailsOnly $12B is dedicated. The other $15B is capacity Meta must buy only if Nebius does not sell it elsewhere. Meta's Q3 10-Q reports up to $14.72B of contingent cloud obligations without naming the provider. | up to$27B | Mar 16, 2026 | Signed | Our report Filing |
| CoreWeave | New AI cloud capacity through 2032, plus exercise of an existing option under an earlier order formTerm: through December 20, 2032 (new capacity); through April 10, 2032 (exercised option)Separate from the $14.2B contract on the filing's wording, but CoreWeave gives no cumulative figure. Either party may terminate for cause. | up to$21B | Mar 31, 2026 | SignedPartly cancelable | Our report Filing |
| CoreWeave | Reserved AI cloud capacity under a new order form on the 2023 master services agreementTerm: through December 14, 2031Subject to delivery and availability requirements. Either party may terminate for cause. | up to$14.2B | Sep 25, 2025 | SignedPartly cancelable | Our report Filing |
| Google Cloud | Google Cloud servers, storage, networking, and other servicesTerm: 6 yearsOne unnamed source; neither company confirmed. | at least$10B | Aug 21, 2025 | Announced | Press report |
| Nebius | AI infrastructure capacity, first Meta agreementTerm: 5 yearsNot included in the $27B deal, which Nebius calls a new agreement. | about$3B | Nov 11, 2025 | Signed | Filing |
| Broadcom | Multi-generation custom MTIA silicon, with a first-phase commitment above 1 GWTerm: through 2029The commitment exceeds 1 GW. No dollar amount. | n/d1 GW | Apr 14, 2026 | Announced | Release |
| AMD | AMD Instinct GPUs under an amended master purchase agreement: binding for the first 1 GW equivalent, 6 GW equivalent for full warrant vestingBinding for the first 1 GW equivalent, which is the figure shown. 6 GW is only the warrant vesting ceiling. No dollar amount in the filing. | n/d1 GW | Feb 23, 2026 | Signed | Filing |
4 more: no stated size, under $1 billion, ended, or covered by a row above
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Firmus | GPU compute capacity at Firmus data centers in Southeast AsiaNo value disclosed. | n/d | Sep 29, 2026 | Signed | Press report |
| Amazon Web Services | Tens of millions of AWS Graviton5 CPU cores for agentic AI workloadsTerm: multi-yearNo value in Meta's post. DCD reports AWS calling it a multibillion-dollar deal over several years. | n/d | Apr 24, 2026 | Announced | Release |
| Google Cloud (TPU rental) | Multi-year rental of Google TPUs through Google Cloud to train and run Meta's next modelsReported by The Information and relayed by trade outlets. Described only as multibillion-dollar. | n/d | Feb 26, 2026 | Announced | Press report |
| Nvidia | Multiyear partnership covering Nvidia CPUs, networking, and millions of Blackwell and Rubin GPUsTerm: multiyearNo dollar amount or GW in either release. | n/d | Feb 17, 2026 | Announced | Release |
Microsoft's contracts
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| Nscale | GPU infrastructure, colocation space, and cloud services under all statements of work signed from September 2025 to April 2026Term: through December 2033, excluding optional six-month extensionsDetailsCumulative, as of Nscale's Sept. 18 S-1. GPU service terms run five to six years from acceptance. Either party may terminate for cause. Reuters reported Oct. 19 that Microsoft pulled out of the UK site at Loughton over grid delays, which came after this figure. | up to$43.8B | Sep 18, 2026 | SignedPartly cancelable | Our report Filing |
| Nebius | Dedicated GPU capacity at Vineland, New JerseyTerm: 5 years, through 2031Details$19.4B if Microsoft buys more. Microsoft may terminate a GPU service if delivery fails after a grace period. Nebius said in its Q2 2026 letter that all capacity tranches were delivered. | about$17.4B | Sep 8, 2025 | ActivePartly cancelable | Filing |
| IREN | Dedicated Nvidia GB300 GPU services at the Horizon facilities in Childress, TexasTerm: five-year average term, through 2031DetailsBefore a 20% prepayment that is credited against later fees. Horizon 1 was delivered in August 2026. Microsoft may terminate for missed delivery dates after cure. | about$9.7B0.2 GW | Nov 2, 2025 | ActivePartly cancelable | Filing |
| Nscale | Letter of intent for up to 1.35 GW of AI compute at the Monarch campus, West VirginiaDetailsLetter of intent only. Nscale's later S-1 ties Monarch financing to its Anthropic agreements and does not mention this letter; no statement found on whether it lapsed. | n/d1.35 GW | Mar 17, 2026 | Announced | Release |
7 more: no stated size, under $1 billion, ended, or covered by a row above
| Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|
| ChronoScale | GPU Services Agreement for dedicated GPU services supporting about 50 MW at a Texas data center, on Nvidia GB300 GPUs in two tranchesTerm: About three years; deliveries expected February and March 2027DetailsSigned Aug. 6, amended effective Aug. 21. No dollar value stated. Deployment is subject in part to ChronoScale obtaining financing. Neither party may terminate for convenience; Microsoft may terminate in certain circumstances. | n/d0.05 GW | Aug 6, 2026 | SignedPartly cancelable | Filing |
| Crusoe | 900 MW dedicated campus at Abilene, Texas, supporting Microsoft AI workloadsDetailsNo value or lease term disclosed. The 900 MW is the site and on-site power figure; each of the two buildings is 336 MW of critical IT load, or 672 MW combined. | n/d0.9 GW | Mar 27, 2026 | Announced | Release |
| Lambda | Deployment of tens of thousands of Nvidia GPUsDescribed only as multibillion-dollar. | n/d | Nov 3, 2025 | Signed | Press report |
| Neocloud companies (aggregate) | Bloomberg's aggregate of Microsoft's neocloud commitments as of November 2025An aggregate from November 2025, not a contract, and now out of date. Never added to the named rows.Covered by another row on this page, so not added again. | at least$60B | Nov 4, 2025 | Announced | Press report |
| Aker-Nscale joint venture | AI compute capacity at Narvik, NorwayTerm: 5 yearsOverlap with the $43.8B row is inferred from the dates; the S-1 does not itemize.Covered by another row on this page, so not added again. | about$6.2B | Sep 17, 2025 | Signed | Release |
| Nscale | 66,000+ Nvidia Rubin GPUs at the SINES Data Campus, Portugal, starting late 2027No value disclosed.Covered by another row on this page, so not added again. | n/d | May 5, 2026 | Announced | Release |
| Nscale | About 200,000 Nvidia GB300 GPUs across the US, Norway, Portugal, and the UKTerm: multi-yearDetailsNo value in the release. Reuters reported Oct. 19, 2026 that Microsoft pulled out of the UK site at Loughton; Microsoft says the decision relates to a single site and it remains committed to the partnership. | n/d | Oct 15, 2025 | Signed | Release |
Amazon's and Google's contracts
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Amazon (AWS) | Nvidia | Plan to deploy 2 million additional Nvidia GPUs across AWS in 2027-2028Term: 2027-2028Described as a plan, not a purchase contract. No dollar amount. | n/d | Aug 26, 2026 | Announced | Release |
| Marvell | Custom silicon attached to the TPU ecosystem, including inference accelerators and controllersTerm: Marvell fiscal Q3 2027 through fiscal 2033 (warrant vesting window)Marvell's filing calls these discretionary purchases and states no total, so no amount is shown. | n/d | Jul 29, 2026 | Signed | Filing | |
| SpaceX | Cloud Service Agreement for compute including about 110,000 Nvidia GPUs, at $920 million per month from October 2026 through June 2029Term: October 2026 through June 2029, terminable on 90 days' notice after December 31, 2026Disclosed only as a monthly rate, and either side can exit on 90 days' notice after 2026, so no total is shown. | n/d | Jun 5, 2026 | SignedCancelable | Filing | |
| Broadcom | Long Term Agreement for custom TPUs and a Supply Assurance Agreement for networking and rack componentsTerm: through up to 2031No dollar amount or GW stated for Google. | n/d | Apr 6, 2026 | Signed | Filing | |
| Amazon (AWS) | Nvidia | More than 1 million Nvidia GPUs plus networking and Groq chips, starting 2026 and running through 2027Term: 2026 through 2027No dollar amount. | n/d | Mar 19, 2026 | Announced | Press report |
SpaceX: compute it buys and sells
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| SpaceX | Entity managed by Apollo Global Management (lessor) | Binding commitment letter for a multi-year master finance lease of GPU pods and related equipment, to be delivered in tranchesTerm: About 5 to 5.25 years per tranche; schedules expected to start in 1H 2027DetailsA binding commitment letter; the master lease is not signed and the deal has not closed. $40B is principal, excluding interest. A financing also listed on the AI debt tracker, so it is not added here. | about$40B | Oct 24, 2026 | Signed | Our report Filing |
| SpaceX (xAI subsidiary, CTC Property) | Valor Equity Partners | Equipment lease of computing and related equipment, first of threeTerm: Life of the lease; not statedDetailsAggregate cash payments, including financing cost. Valor founder Antonio Gracias sits on SpaceX's board. SpaceX's Q3 10-Q treats the Valor deals as a failed sale-leaseback recorded as debt, $12.9B at Sept. 30, 2026, so these three rows are not added here. | $6.99B | Jun 12, 2026 | Active | Our report Filing |
| SpaceX (xAI subsidiary, CTC Property) | Valor Equity Partners | Equipment lease of computing and related equipment, second of threeTerm: Life of the lease; not statedSee the first Valor lease. Date is the prospectus filing. | $6.63B | Jun 12, 2026 | Active | Filing |
| SpaceX (xAI subsidiary, CTC Property) | Valor Equity Partners | Equipment lease of computing and related equipment, third of threeTerm: Life of the lease; not statedSee the first Valor lease. Date is the prospectus filing. | $6.59B | Jun 12, 2026 | Active | Filing |
2 more: no stated size, under $1 billion, ended, or covered by a row above
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Unnamed customer | SpaceX (SpaceXAI) | Hosting deal for AI compute, about $1.11 billion a month starting Dec. 1, 2026Term: Same structure as other deals: "90-day with a 90-day out"DetailsFrom SpaceX CFO Bret Johnsen at a Goldman Sachs conference, not an SEC filing. Monthly figure only, so no total is shown. He described these deals as about 90 days with a 90-day exit. | n/d | Sep 10, 2026 | SignedPartly cancelable | Our report Press report |
| Cursor (Anysphere) | SpaceX (SpaceXAI) | Compute agreement for GPU cluster capacity, signed alongside SpaceX's option to buy CursorEnded when SpaceX completed its acquisition of Cursor on Aug. 14, 2026. | n/d | Apr 19, 2026 | Terminated | Filing |
Other AI buyers
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Jane Street | Crusoe | Five-year cloud contract for GPU capacity on Crusoe's platformTerm: 5 yearsPress report only; neither company has confirmed it. | about$13B | Sep 4, 2026 | Signed | Press report |
| Jane Street | CoreWeave | Commitment to CoreWeave's AI cloud platform, including Nvidia Vera Rubin capacity across multiple facilitiesSeparate from Jane Street's $1B CoreWeave equity purchase. | about$6B | Apr 15, 2026 | Signed | Filing |
| Figure AI | Nscale | GPU Services Agreement for up to 100,000 Nvidia Vera Rubin GPUs in Barstow, TexasTerm: Multi-year; deployment targeted from 2H 2027The $3.5B is from the announcement; the S-1 gives no dollar figure for Figure. Up to 100,000 GPUs is described as a potential. | $3.5B | Aug 24, 2026 | Signed | Our report Release |
| Nvidia | IREN | Five-year cloud services contract for Nvidia's internal AI and research workloadsTerm: 5 years | about$3.4B | May 2026 | Signed | Filing |
| Prometheus, Perplexity, and Together AI (aggregate) | IREN | Multi-year cloud services contracts with leading AI developersTerm: Multi-yearAn aggregate. The figure may include other customers, and the split is not disclosed. | about$2.8B | Jul 2026 | Signed | Our report Filing |
| Nvidia | Nscale | Master cloud services agreement for reserved GPU capacity in Iceland, the UK, and NorwayTerm: 12 to 48 months initial termsNvidia holds more than 5% of Nscale. | $1.2B | Jul 2025 | Active | Filing |
| Thinking Machines Lab | Nvidia | Multi-year partnership to deploy at least 1GW of Nvidia Vera Rubin systemsTerm: Multi-year; deployment targeted early 2027At least 1 GW. No dollar value or binding purchase commitment stated. Who pays, and through which cloud, is not disclosed. | n/d1 GW | Mar 10, 2026 | Announced | Release |
7 more: no stated size, under $1 billion, ended, or covered by a row above
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Unnamed customers | Bitdeer | Long-term GPU commitments covering the 9.5MW A102 facility in MalaysiaTerm: Five yearsBitdeer's wording is total expected revenue. | at least$800M0.0095 GW | Sep 17, 2026 | Signed | Filing |
| Perplexity | Microsoft | Azure cloud agreement to run AI models through Microsoft FoundryTerm: 3 yearsMicrosoft confirmed a multi-year agreement but not the amount. This buys model access on Azure, not only raw compute. | $750M | Jan 29, 2026 | Signed | Press report |
| Cohere | HIVE Digital (BUZZ HPC) | Three-year sovereign AI GPU contract, including compute, connectivity, and storageTerm: 3 yearsDate is the original announcement; the $225M figure was restated Oct. 29, 2026. | $225M | Jun 18, 2026 | Signed | Filing |
| Hudson River Trading | CoreWeave | Multi-year AI cloud agreement including Nvidia Vera Rubin systemsTerm: Multi-year; length not disclosedCoreWeave says multi-billion dollar but gives no figure. | n/d | Aug 20, 2026 | Announced | Our report Release |
| Unnamed customer (leading frontier AI lab) | IREN | Multi-year cloud services contract; IREN's words: "a leading frontier AI lab"Term: Multi-yearThe Information reported in October that Anthropic has an unannounced multiyear IREN deal; nobody has said it is this contract. | n/d | Aug 2026 | Signed | Our report Filing |
| Mistral AI | EcoDataCenter | AI data center at Borlänge, Sweden, with EcoDataCenter supplying the siteTerm: "Long-term"No amount: the €1.2B is called a joint investment and is not stated as what Mistral pays. | n/d | Feb 11, 2026 | Announced | Release |
| Poolside | CoreWeave | Cluster of Nvidia GB300 NVL72 systems with more than 40,000 GPUsDetailsValue never disclosed. The FT, via DCD, said in April 2026 that the partnership began to fall apart late in 2025 when Poolside could not stand up the first cluster on CoreWeave's timeline, and CoreWeave said the companies chose to pursue different paths. Neither names this GPU contract. | n/d | Oct 15, 2025 | Announced | Release |
Data center leases
Leases sit one layer below compute contracts, because the tenant is often reselling the capacity. They have their own total and are not added to the compute contracts.
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Unnamed customer (high-investment-grade technology company) | Hut 8 | Two 15-year triple-net leases covering 704MW critical IT capacity at Beacon Point, TexasTerm: 15 years, with three five-year optionsTwo leases at about $9.8B each. Hut 8 has not named the tenant. The FT reported it is Nvidia. | about$19.6B0.704 GW | Jul 20, 2026 | Signed | Our report Filing |
| Anthropic | TeraWulf | 20-year lease at the Justified Data campus in Hawesville, KentuckyTerm: 20 years from delivery, with two five-year optionsTeraWulf names Anthropic as tenant. Up to about $33B if both options are exercised. The 401 MW is critical IT load. | about$19B0.401 GW | Jul 6, 2026 | Signed | Our report Filing |
| Meta | Louisiana and Texas data center ventures (Meta holds 20% of each) | Leases of data center campuses from two ventures; initial four-year terms, renewable to 20 yearsTerm: 4 years initial, up to 20 years with renewals; commence 2029 (Louisiana) and 2028 (Texas)Meta's lease commitments line at Sept. 30, 2026, for both ventures together. It does not include $41.493B of residual value guarantees. | $18.48B | Sep 30, 2026 | Signed | Filing |
| AMD and an unnamed neocloud | Core Scientific | 15-year leases: 377MW to AMD and 152MW to a neocloud across five sitesTerm: 15 years, with three five-year optionsCore Scientific's word is "potential." The split between AMD and the neocloud is not disclosed. | at least$14B0.529 GW | Jul 27, 2026 | Signed | Filing |
| CoreWeave | Applied Digital | About 15-year leases of 400MW critical IT load at Polaris Forge 1, North DakotaTerm: 15 yearsDetailsEach lease is take-or-pay and non-cancelable, and termination for convenience requires the full remaining value. Applied Digital issued CoreWeave warrants on these leases. | about$11B0.4 GW | Jul 29, 2026 | ActiveNon-cancelable | Filing |
| CoreWeave | Core Scientific | 12-year hosting contracts, about 590MW across five sitesTerm: 12 yearsCumulative, including the $1.2B Denton expansion. | $10.2B0.59 GW | Feb 26, 2025 | Active | Filing |
| Fluidstack | FS CS I LLC (Abernathy, Texas joint venture, now held by Fluidstack and other purchasers) | 25-year hosting commitment for 168 MW at AbernathyTerm: 25 years; can be shortened to 20 or 15 years under contractual optionsDetailsRevenue goes to the joint venture. TeraWulf sold its entire 50.1% stake to Fluidstack and other purchasers effective July 6, 2026, so the tenant is now also an owner of the joint venture. Google backstops $1.3B of Fluidstack's lease obligations. | about$9.5B0.168 GW | Oct 28, 2025 | Signed | Filing |
| Fluidstack, then a leading AI lab | Cipher Digital | Barber Lake lease amended and a second 10-year lease commitment added with an unnamed AI lab, taking the site to 20 yearsTerm: 20 years in aggregateCipher's total for the site, across two tenants. The lab is unnamed in Cipher's filings. 300 MW is gross. | about$9.1B0.3 GW | Sep 24, 2026 | Amended | Filing |
| Anthropic | Riot Platforms | 20-year lease at Rockdale, TexasTerm: 20 years, through June 2048, with two five-year optionsDetailsAmount, term, and MW are from Riot's filing; Riot names only a frontier AI lab, and the Anthropic identification is Bloomberg's. Up to about $16.1B if both options are exercised. | about$9.1B0.191 GW | Aug 10, 2026 | Signed | Our report Press report |
| Unnamed customer (high investment-grade hyperscaler) | Applied Digital | Two about 15-year leases of 300MW critical IT load at Polaris Forge 3Term: About 15 years, with three five-year optionsTenant unnamed. Date is the lease date in the 10-K. | about$7.5B0.3 GW | May 20, 2026 | SignedNon-cancelable | Filing |
21 more: smaller deals, no stated size, under $1 billion, ended, or covered by a row above
| Buyer | Pays | What it buys | Amount | Date | Status | Source |
|---|---|---|---|---|---|---|
| Unnamed customer (high investment-grade hyperscaler) | Applied Digital | Two about 15-year leases of 300MW critical IT load at Delta Forge 1Term: About 15 years, with three five-year optionsTenant unnamed. Non-cancelable per Applied Digital's 10-K. | about$7.5B0.3 GW | Apr 23, 2026 | SignedNon-cancelable | Filing |
| Fluidstack (Anthropic partnership) | Hut 8 | 15-year lease of 245 MW at the River Bend campus in LouisianaTerm: 15 yearsDetailsThe tenant is Fluidstack, with Google backstopping rent; Hut 8 ties the lease to Anthropic through the partnership but does not say Anthropic pays. Up to $17.7B with renewals. The tenant has termination rights in certain circumstances. | about$7B0.245 GW | Dec 17, 2025 | SignedPartly cancelable | Filing |
| Fluidstack | TeraWulf | Lake Mariner leases after adding the 160 MW CB-5 buildingTerm: 10 years; up to about $16B with extensionsDetailsCumulative: three ten-year leases. In July 2026 two leases were amended from an aggregate 162 MW to 168 MW, for 378 MW of critical IT load in all, with no new total given. | about$6.7B0.378 GW | Aug 18, 2025 | Amended | Filing |
| Amazon (AWS) | Cipher Digital | Turnkey data center lease for AI workloads at the Black Pearl site, Wink, TexasTerm: 15 yearsDetails$5.5B is the value Cipher announced in November 2025; later amendments revised the data hall configuration and milestone dates with no updated value. Cipher's 10-Q does not name AWS; the link to this site is by size and term. 300 MW is gross. | about$5.5B0.3 GW | Nov 3, 2025 | Active | Our report Filing |
| Unnamed customer (high investment-grade hyperscaler) | Applied Digital | About 15-year lease of 210MW critical IT load at Delta Forge 2Term: About 15 years, with three five-year optionsTenant unnamed. Non-cancelable per Applied Digital's 10-K. | about$5.2B0.21 GW | Jun 5, 2026 | SignedNon-cancelable | Filing |
| Unnamed customer (U.S. based investment grade hyperscaler) | Applied Digital | About 15-year lease of 200MW critical IT load at Polaris Forge 2, North DakotaTerm: About 15 yearsTenant unnamed. Non-cancelable per Applied Digital's 10-K. | about$5B0.2 GW | Oct 22, 2025 | SignedNon-cancelable | Filing |
| Volta (end user a leading AI lab) | Bitdeer | 16-year colocation lease of 121 IT MW at Tydal, NorwayTerm: 16 years, with an 8-year renewal optionDetailsVolta pays Bitdeer. Volta has a no-fee termination right at year 10, so the 16-year value is not fully firm. About $8B over 24 years with the option. If the reported Anthropic-Volta deal is right, this is the same capacity one layer down. | about$4.7B0.121 GW | Aug 4, 2026 | SignedPartly cancelable | Our report Filing |
| Nscale | Ionic Digital | 126-month triple-net lease of 234MW at Ward County, TexasTerm: 126 monthsDetailsRises to about $2.6B if an extra 89 MW is secured by the second half of 2027. Nvidia guarantees up to $860.3M of the lease payments, and Nscale's parent guarantees rent from the sixth lease year. | about$1.95B0.234 GW | Oct 2025 | Amended | Our report Filing |
| Core42 (G42) | TeraWulf | 10-year leases of 72.5MW at Lake Mariner, New YorkTerm: 10 years, with two five-year renewal optionsAll four leases have commenced. | about$1.1B0.0725 GW | Dec 2024 | Active | Filing |
| Nscale | WhiteFiber | 10-year, 40MW colocation agreement at the NC-1 campus, Madison, North CarolinaTerm: 10 yearsExcludes electricity. WhiteFiber says Nscale is deploying the capacity for investment grade technology customers. | about$865M0.04 GW | Nov 22, 2025 | Signed | Filing |
| OpenAI | SB Energy (SoftBank) | 17 triple-net leases at the PORTS-Pike Technology Campus, Pike County, Ohio, about 8.0 GW of critical IT capacityTerm: 20 years, with four 5-year tenant extension options; commencing in stages 2028 to 2032DetailsNo lease value stated. Either party may terminate a lease if a development event is missed, and the tenant has other specified termination rights. Nvidia's guarantees, capped at $105B, cover defined portions of lease and power payments on about 4.25 GW; they are on the AI debt tracker. | n/d8 GW | Aug 17, 2026 | SignedPartly cancelable | Our report Filing |
| Unnamed customer (investment grade hyperscaler) | Cipher Digital | 15-year lease of an additional data center at a Cipher site in TexasTerm: 15 years, with extension optionsDetailsNo dollar value stated. This appears to be the 100 MW gross Stingray site. Press citing Bloomberg says Amazon is the tenant; Cipher's filings do not name it. | n/d0.1 GW | Mar 2026 | Signed | Filing |
| OpenAI | SB Energy (SoftBank) | Two triple-net data center leases at Milam County, Texas, about 753 MW of critical IT capacityTerm: 15 years, with two 10-year tenant extension optionsDetailsNo rent or lease value stated. Tenant has a buy-out option if the first data hall is delayed 365 days or more; the leases generally bar termination for convenience. An OpenAI affiliate guarantees the tenant. | n/d0.753 GW | Jan 9, 2026 | SignedPartly cancelable | Filing |
| CoreWeave | Poolside (Project Horizon) | Anchor tenancy at Poolside's West Texas campus: 250MW first phase on a 15-year leaseTerm: 15 yearsNo termination date stated. CoreWeave's release said it "plans" to provide services, so a binding lease was never confirmed. | n/d0.25 GW | Oct 15, 2025 | Terminated | Press report |
| Oracle | Crusoe and Blue Owl Capital (site owners) | 15-year lease of the Abilene, Texas data center siteTerm: 15 yearsNo lease value disclosed. Oracle's filings name no landlords. | n/d | May 23, 2025 | Announced | Press report |
| CoreWeave | Galaxy Digital | 15-year leases of 526MW critical IT load at the Helios campus, TexasTerm: 15-year base, plus two five-year optionsNo amount: the only stated value, $30B or more, assumes two five-year extensions. Date is the first lease. | n/d0.526 GW | Apr 2025 | Active | Filing |
| CoreWeave | Applied Digital | First two leases: 250MW at Ellendale, North DakotaTerm: About 15 yearsPart of the $11B row.Covered by another row on this page, so not added again. | about$7B0.25 GW | Jun 2, 2025 | Signed | Filing |
| Unnamed customer (leading AI lab) | Cipher Digital | Binding commitment to lease Barber Lake for 10 more years after the Fluidstack lease endsTerm: 10 years, starting after the Fluidstack termStarts about a decade out. The lab is unnamed.Covered by another row on this page, so not added again. | about$5.2B | Sep 24, 2026 | Signed | Filing |
| Fluidstack | Cipher Digital | Barber Lake lease, Colorado City, Texas: 10-year term for the whole siteTerm: 10 yearsDetailsThe figure before the September 2026 amendment, which removed two five-year extension options. 300 MW is gross. Google backstops part of Fluidstack's obligations. | $3.8B0.3 GW | Sep 24, 2026 | Amended | Filing |
| Fluidstack | TeraWulf | Lake Mariner data center leases, first trancheTerm: 10 years initialPart of the $6.7B row. Up to about $8.7B with extensions. Google backstops $1.8B of Fluidstack's obligations.Covered by another row on this page, so not added again. | about$3.7B0.2 GW | Aug 14, 2025 | Amended | Filing |
| Fluidstack | Cipher Digital | Original 168MW, 10-year Barber Lake agreementTerm: 10 yearsPart of the $3.8B row.Covered by another row on this page, so not added again. | about$3B0.168 GW | Sep 25, 2025 | Amended | Filing |
How this ledger is kept
A contract gets a row when a filing, a company release, or a named outlet reports that a buyer has agreed, or is negotiating, to pay a supplier for AI compute: cloud capacity, data center capacity, or chips bought under a multi-year supply deal. Bonds, loans, and guarantees are on the AI debt tracker, and equity stakes and warrants are in the AI money loop.
Amounts are the contract value as the source states it, in US dollars. We do not convert gigawatts into dollars or annualize a contract. Rows marked press-reported rely on news reports for the amount or the parties. The cancelable column repeats what the source says; most contracts do not disclose it. Totals use the stated amount, including up-to caps, so they show face value, not money certain to be spent.
Status keeps talks apart from contracts. Announced covers letters of intent and deals with no binding contract stated. Signed means a binding agreement is stated. Totals count each contract once: when a deal is expanded or a filing replaces an earlier figure, the earlier row points to the newer one and is left out. Terminated and expired contracts stay on the page for the record but are left out too.
Data center leases have their own table and their own total. The tenant is often reselling that capacity as cloud compute, so adding leases to compute contracts would count the same money twice.
The filers' company-wide figures sit in their own table and are never added to the contract rows, because they overlap with them and, for the big cloud companies, cover far more than AI.
Common questions
- How much has Anthropic committed to spend on compute?
- About $895.4 billion, substantially all of it for compute and infrastructure, according to the S-1/A it filed on Nov. 2, 2026, counting commitments as of and after Sept. 30. That includes about $451.2 billion of leases that have not started and about $100.2 billion signed after Sept. 30. Anthropic says about $213.8 billion of the total can be terminated or depends on conditions before it starts, and it estimates a further $150 billion to $175 billion of arrangements with no fixed dollar commitment that sit outside the total.
- How much has OpenAI committed to spend on compute?
- OpenAI has no public filing, so there is no public audited figure. Sam Altman said about $1.4 trillion over eight years in November 2025. Reuters, relaying the Financial Times, reported in September 2026 that OpenAI forecasts about $856 billion on computing power and infrastructure by the end of 2030. The largest listed contracts are more than $300 billion with Oracle and $250 billion with Microsoft.
- What is the difference between a compute commitment and AI backlog?
- They are the same promises seen from opposite sides. A commitment is what the buyer has agreed to pay. Backlog, or remaining performance obligations, is what the supplier has booked but not yet recognized as revenue. The AI backlog tracker covers the supplier side. The two do not match line by line, because suppliers report every customer and buyers report every supplier.
- Are these contracts firm?
- Many are not fully firm. SpaceX's deal with Anthropic can be canceled on 90 days' notice after early 2027. AMD's deal with OpenAI is binding on 1 gigawatt of up to 6. Bitdeer's tenant at Tydal can leave free of charge at year 10. The cancelable column repeats the source's wording, and the row note gives any exit the source states. Most contracts do not disclose their exit terms.
- Why can't I add up every row?
- Because some rows overlap. An expanded contract appears as both the first stage and the newer total. A data center lease and the cloud contract that runs on it can be the same money one layer apart. The totals count each contract once, leave leases out of the compute total, and leave out rows marked as covered by another. The financing rows on SpaceX's GPUs are left out too, because they are also on the AI debt tracker.
- How often is this page updated?
- Rows change when a filing, a company release, or a named outlet reports a new contract or a change to one already listed. Each new row is checked against its source, and each row links to it.
Use this data
Our figures are free to reuse in articles, newsletters, and research with attribution and a link back to this page. Current table as a file: download CSV.
Suggested citation: AIStockWire, “AI compute commitments tracker: who owes whom for AI,” aistockwire.com/ai-compute-commitments, data as of Nov 3, 2026. Questions about the data: support@aistockwire.com.
Related: AI debt tracker, AI backlog, the AI money loop, AI IPO tracker. Not investment advice.