Anthropic spends $3.4 billion to purchase gas-fired power equipment to supply electricity for data centers

AI unicorn Anthropic is making an unprecedented direct move into the energy infrastructure sector.

According to the Financial Times on November 8, Anthropic spent $3.4 billion in late September to secure a commitment to purchase 1.7 gigawatts of gas-fired heavy generators from OnePWR Solutions, a supplier based in San Antonio, Texas, marking the largest single power equipment procurement deal known to date by an AI lab. The deal also includes the engineering and construction capabilities required to install the generators, but Anthropic did not acquire the OnePWR company itself, nor did any OnePWR staff transfer to Anthropic.

Direct procurement: Bypassing intermediaries to seize scarce resources

According to reports, sources revealed that OnePWR had previously placed an order with Caterpillar for generators but needed financial support to complete the deal. Anthropic initially planned to act as a customer and procure from OnePWR, but ultimately chose to take over its equipment order with Caterpillar directly.

This arrangement allowed Anthropic to lock in generator sets that had been ordered years earlier at lower prices and that could be delivered in the near term and within the next two years, effectively avoiding the current market predicament where surging demand for gas turbines and generators has pushed manufacturing lead times out for years.

AI developers usually rely on utilities and specialist power companies for electricity, but as such equipment becomes increasingly scarce, directly controlling production resources has become a common strategy among top tech firms.

Previously, Musk's SpaceX quickly established large-scale data centers through direct procurement of power equipment; xAI spent $2 billion earlier this year to acquire mobile gas turbines; Alphabet, Google’s parent company, acquired energy developer Intersect by the end of 2025.

Infrastructure layout: Nearly $900 billion in compute commitments

This procurement is part of Anthropic's broader strategy to accelerate control over its own operational infrastructure. This week, the company disclosed that its compute commitments through 2045 have already reached close to $900 billion, having previously relied heavily on partners for electricity, chips, data centers, and land—and having paid premiums to secure capacity.

Directly acquiring generators will give Anthropic much stronger control over the electricity powering these facilities. Arash Nazhad, Managing Director for Clean Energy and Power at Stifel, commented:

"By owning some of their own power infrastructure and internal capabilities, companies believe they can better withstand supply disruptions that are beyond their control."

Notably, Anthropic is also a key SpaceX customer, with monthly payments for leased compute resources expected to reach $3.1 billion by the end of the year.

Anthropic is preparing for an IPO as early as this month, which is expected to be one of the largest listings in history, aiming to fund its over $895 billion in compute infrastructure spending through 2045. Anthropic may launch its official IPO roadshow as soon as the week of November 9. In the wake of the AI stock crash, the company's IPO plans face a stern test. Potential investors have considerably lowered their valuation expectations for the AI company to under $1.5 trillion.

However, this ambitious plan faces obstacles. Blackstone has warned investors that Anthropic may receive a junk-grade credit rating, instead of the previously expected investment-grade rating. This statement adds to the uncertainty surrounding Anthropic's route to going public.