Nvidia Expands Role as Supplier and Landlord

Nvidia is deepening its influence across the artificial intelligence infrastructure stack by serving as both hardware supplier and landlord. Reports from The Wall Street Journal and Reuters indicate a $35 billion cloud arrangement centered on 350 megawatts of capacity at the Hut 8 Beacon Point campus in Texas. The deal involves AI lab Anthropic securing compute through neocloud provider Lambda.

Nvidia holds the lease on the Texas data center facility while simultaneously supplying the graphics processing units that Lambda operates. This dual structure allows Nvidia to capture revenue at both the real estate and silicon levels. Lambda absorbs the operational complexity as an intermediary, while Nvidia maintains direct control over the physical operating environment.

The transaction marks Anthropic's ninth compute corridor as the startup supports a $65 billion annualized revenue run rate ahead of an October 2026 initial public offering. Anthropic has also committed to other major corridors, including 5 gigawatts with AWS, 5 gigawatts with Google and Broadcom, $30 billion with Microsoft and Nvidia, $50 billion with Fluidstack, $45 billion with Nscale, $10 billion with Volta, $5 billion with AMD, and 300 megawatts with SpaceX.

The arrangement highlights an evolving compute landlord model across the sector. Companies that control physical facilities and chip clusters are positioning themselves to extract recurring value from software developers that rely heavily on their ecosystems.