Anthropic Pledges to Spend $44.9 Billion on Microsoft Services Through 2033
Key Facts
Anthropic said in an amendment to its filing with the U.S. Securities and Exchange Commission on November 2, 2026, that it had pledged to spend at least $44.9 billion on Microsoft services between November 2026 and June 2033. The commitment remains in place regardless of actual usage, according to the disclosure, and can be canceled only if Microsoft materially breaches the agreement and fails to remedy the breach, or if the contracted service chips are not delivered. The filing describes the amount as spending on services, not an investment by Anthropic in Microsoft. This sets a long-term minimum for spending on the company's services, with fulfillment of the agreement tied to continued service delivery under its terms. Microsoft shares closed at $516.799 on November 3, according to EL7 data.
The agreement runs from November 2026 to June 2033, while the filing places Microsoft's commitments within broader computing and hosting arrangements. Anthropic said it had pledged to spend at least about $121.3 billion with Google between April 2026 and July 2033, and at least $110 billion with Amazon between May 2026 and April 2036. The company said these commitments, along with other purchase and lease agreements, relate mostly to computing and infrastructure. The agreements have different timelines: Amazon's commitment runs through 2036, while those with Google and Microsoft end in 2033. These contracts show that expansion plans depend on securing computing capacity from multiple providers over several years.
Anthropic said its total contractual commitments expected to be paid over the twelve months following September 30, 2026, amounted to about $69.8 billion. Of that amount, about $4.3 billion is tied to arrangements subject to pending conditions or termination rights before performance begins. The filing also said about $447.5 billion in spending commitments is expected before the end of 2030, while most of the remainder is expected to be spent between 2031 and 2045. This schedule reflects commitments extending beyond the term of the Microsoft agreement and does not mean the full amounts will be paid immediately. The figures include multiple contractual commitments, not just the three computing agreements.
Anthropic's revenue rose 47% quarter over quarter to $16.96 billion in the third quarter of 2026, after increasing 144% in the second quarter, according to Reuters. The agency said the pace of growth slowed compared with the previous quarter. At the same time, the operating margin improved to negative 3% in the third quarter from negative 224% in the same period of 2025, according to the company's disclosure. These indicators show revenue growth and an improvement in the operating margin, while the margin remained negative. The disclosure on computing spending puts these results in the context of the company's expansion to secure the capacity needed for its business.
Anthropic warned that computing providers and infrastructure partners may rely on financing or credit support from third parties. The company said that if such financing is unavailable or becomes more expensive, contracted capacity could be delayed, repriced, reduced or not delivered. Two officials at venture capital firm Neostellar said they would monitor when capacity becomes available, when payments begin and how revenue growth compares with future commitments. Monitoring the agreements is therefore tied to service availability and payment flows, as well as Anthropic's revenue growth. The company said it expects to continue entering into additional arrangements to secure computing capacity and infrastructure as its business expands.
The disclosure also points to increased use of the company's tools in its own operations: Anthropic said Claude wrote more than 90% of code contributions in its codebase during September 2026. It added that the average volume of code contributed daily by each engineer during the three months ended September 30, 2026, exceeded 45 times the 2024 average. On a public offering, the Associated Press reported that the amendment did not specify how much funding the company aims to raise or the share price. Anthropic had previously said it planned to list on the Nasdaq Global Select Market under the ticker ANT. The report provided no details on the size or pricing of the offering.