Meta Contracts 5GW of Compute, Eyes Anthropic Claude Deal

The number that jumps out from a new SemiAnalysis report on Meta's build-out is what the company has done recently. Meta has reportedly contracted over 5GW of capacity across cloud and colocation deals, on top of a running total the analysts put at nearly 10GW of deals signed since early 2024. Another 2.5GW is under construction.

Those numbers alone would be a story about training. The more interesting claim, framed by SemiAnalysis as an exclusive, is that Meta is in final talks with Anthropic to get access to private instances of Claude, structured along the lines of Bedrock, Foundry, or Vertex from other hyperscalers. If that lands, Meta would be reselling a rival's flagship model to its own customers while also running it in-house, an unusual position for a company still investing heavily in its own frontier training under Meta Superintelligence Labs.

The framing the report leans on is high optionality. SemiAnalysis argues Meta is procuring compute against four different high-value-add options at once: frontier model training inside Meta Superintelligence Labs, a claimed scaling of ads recommendation systems by more than 10x in complexity, the Anthropic hosting service if it closes, and SpaceX-style on-demand rentals to external customers, where the analysts say allocating just 200MW to one buyer can drive $10B a year of revenue. That is the neocloud angle. SemiAnalysis expects Meta to be a big source of remaining performance obligation growth for the likes of CoreWeave and Nebius as well.

The honest caveat is that a lot of this is one outlet's reporting, including the Anthropic talks and the SpaceX-style economics, which read more as aspirational pricing than booked revenue. What the piece does not settle is which neocloud counterparties are on the other side of the 5GW, or how Meta would price Claude access against rivals. Still, if even half of the four-track thesis plays out, Meta stops being a company that just buys compute and becomes one that also rents it out.