Anthropic Secures Gas Generators Worth About $3.4 Billion for Data Centers
Key Facts
Anthropic has struck a deal worth about $3.4 billion to secure gas-fired generators for its data centers, according to a Financial Times report cited by Reuters on November 8. The report said the startup bought supply commitments for 1.7 gigawatts of heavy-duty generators from OnePWR Solutions, a supplier based in San Antonio, Texas, in late September. Reuters said it could not immediately verify the report, and Anthropic and OnePWR did not respond to requests for comment. In a separate disclosure, Piper Sandler said it had served as exclusive adviser to OnePWR on the $3.4 billion sale of a power-generation platform to a leading artificial intelligence lab in September, without naming the buyer. The disclosure puts the deal’s value in an independent context but does not identify the lab that bought the platform.
According to the report cited by Reuters, Anthropic did not acquire OnePWR itself, and none of the supplier’s employees moved to the AI company. The deal included engineering and construction capabilities needed to install the generators, alongside equipment supply commitments, according to the same account. These details indicate that the arrangement combines access to generation equipment with the services needed to bring it online, while the supplier remains independent of Anthropic. The deal comes as the company links data center expansion to the need for more computing capacity and power to meet demand for Claude models. Reuters reported in September that Anthropic expects to spend more than $500 billion on building AI infrastructure over the next ten years.
Anthropic’s filings with the U.S. Securities and Exchange Commission reflect the scale of obligations tied to this expansion. Combined purchase and lease commitments totaled about $895.4 billion, most of them related to computing and infrastructure, according to the filing. The company expects to incur about $447.5 billion of these commitments before the end of 2030. In another filing, Anthropic warned that data centers’ reliance on on-site gas generation could increase competition for gas supplies and pipeline capacity in the regions concerned. It said this competition could raise natural gas prices and could adversely affect its ability to contract for firm supplies and transportation.
The reported deal coincides with growth in Caterpillar’s power equipment business. The company recorded sales and revenue of $20.7 billion in the third quarter of 2026, up 17% from $17.6 billion in the same period of 2025. The Power & Energy segment recorded sales of $8.784 billion, up 18% from $7.463 billion a year earlier. The company said the increase came mainly from turbines and related services, and large reciprocating engines, particularly in data center applications. Segment profit was $2.143 billion, up 31% from $1.633 billion in the third quarter of 2025. Chief Executive Joe Creed said the results reflected “resilient end markets, with strong order rates and a record backlog.”
Caterpillar shares closed at $558.63 on November 6, then stood at $598.88 on November 9, according to EL7 data. These prices provide a snapshot of the stock’s movement around the report date but do not, on their own, establish the reason for the change between the two sessions. Caterpillar’s quarterly results provide context on sales of power generation equipment, including data center applications. The link between those results and the Anthropic deal remains part of the broader context of power demand coinciding with AI infrastructure expansion, as available disclosures do not specify Caterpillar’s share of the reported deal. The deal’s value and components remain attributed to the news report and the financial adviser’s disclosure, while Reuters said it could not immediately verify the report’s details.