It is reported that Anthropic will acquire Caterpillar natural gas power generation units for $3.4 billion, with a maximum power capacity of up to 1.7 gigawatts. The units were initially ordered by equipment provider OnePWR, under Anthropic’s original plan to procure through OnePWR before shifting to direct purchase from the manufacturer, Caterpillar; the report does not specify the reasons why OnePWR failed to secure financing.

Previously, Anthropic favored leasing rather than purchasing physical infrastructure, and disclosed in its May S-1 filing plans to pay SpaceX’s xAI $1.25 billion per month to utilize its compute capacity through May 2029. As demand for compute increases, both power generation availability and grid interconnection timelines are becoming increasingly constrained, with gas turbine order backlogs extending into the early 2030s. This procurement secures power capacity for Anthropic but also exposes it to risks associated with natural gas price volatility.