Meta Stocks in Talks for $10B Anthropic Computing Lease Deal

Meta Platforms (META) entered early talks with Anthropic for a potential $10 billion computing lease over two years. Anthropic proposed the arrangement in June, with monthly installments and early exit options for both parties, though Meta is still reviewing terms and the talks may not result in a deal, according to a New York Times report citing people familiar with the discussions. The development highlights acute shortages of AI computing capacity as Meta plans to spend as much as $145 billion this year on AI infrastructure, while CEO Mark Zuckerberg stated during the company's May investor call that outside companies regularly seek to purchase Meta's excess compute at a premium.

Anthropic Signed $45 Billion Computing Deal With SpaceX in May

The proposed Meta arrangement is roughly one-third the size of Anthropic's existing computing agreement with SpaceX. In May, Anthropic signed a $45 billion, three-year deal with Elon Musk's SpaceX to lease computing power, which works out to roughly $1.25 billion per month and gives the AI company access to significant processing capacity from SpaceX.

Meta Plans $145 Billion AI Spending This Year

Meta plans to spend as much as $145 billion this year, more than double last year's outlay, mostly on AI. During the company's May investor call, CEO Mark Zuckerberg said outside companies regularly seek to buy compute from Meta at a premium and noted that selling excess capacity could help generate returns if the company overbuilds infrastructure. The company has not yet started renting its own computing power, instead using it to build its own AI models. Meta has already signed deals to rent computing power for itself with CoreWeave and Nebius.

META Stocks Fell 6% on Friday Before Recovering

Meta Platforms (META) shares fell as much as 6% on Friday but began paring losses following the report. On Stocktwits, retail sentiment around META stocks fell from 'bullish' to 'neutral' territory over the past 24 hours, while message volume fell from 'high' to 'low' levels. One Stocktwits user applauded the stock's "strong recovery," while another opined that the talks imply Meta's AI team is falling behind. A third user wrote, "I think we finish a few percent up on the day. This deal, with a partner of this caliber. Is huge." META stocks have fallen 2% year-to-date.

FAQ

What is the value of the proposed Meta-Anthropic computing deal? The proposed deal is worth up to $10 billion over two years, with Anthropic paying in monthly installments and both companies able to exit the agreement early.

How much is Meta spending on AI infrastructure this year? Meta plans to spend as much as $145 billion this year on AI infrastructure, more than double last year's outlay.