The S-1 says that under its Hardware Supply Agreement with AMD, Anthropic committed to obtain an initial tranche of capacity in calendar year 2027 using AMD-based Helios rack-scale systems, provided conditions on deployment proposals are met; the agreement sets no fixed dollar commitment, and Anthropic expects expenditures to exceed $20.0 billion if it procures the full initial capacity.

The exact words it rests on

we committed to obtain an initial tranche of compute capacity in calendar year 2027 by purchasing AMD-based Helios rack-scale systems ... provided certain conditions related to deployment proposals are met. The agreement does not specify a fixed dollar commitment. If we procure the full amount of this initial committed capacity, we expect aggregate expenditures to exceed $20.0 billion

What the source said when we opened it, on 27 Oct 2026.

The source

Anthropic, PBC Form S-1 registration statement
U.S. Securities and Exchange Commission · 2026-10-26

Open the sourcearchived copy

Checked

Checked by the notis newsroom on 27 Oct 2026, against the source above.

In the story

Anthropic's S-1 lists compute commitments it must generally pay whatever its revenue 27 Oct 2026