The broader infrastructure race among AI firms emphasizes securing data center capacity, energy, and chips as competitive differentiators and growth enablers across related sectors.

Anthropic has been expanding its infra footprint in 2026 with sizable funding rounds and claimed high revenues to support compute capacity growth.

Macquarie-managed funds and GIC will own Theseus Infrastructure and finance the bulk of the equity for individual data center projects, signaling a capital-heavy expansion backed by institutional investors, while Anthropic will cover any consumer electricity price hikes from the facilities.

The announcement did not disclose planned spending or project sizes for Theseus.

Anthropic is launching Theseus Infrastructure, a long-term data center initiative with Macquarie Asset Management and Singapore's sovereign wealth fund GIC, to develop, operate, and lease AI compute facilities where Anthropic will be a major tenant.

The Theseus-driven deployments are expected to require substantial capital, create thousands of construction and permanent jobs, and provide Anthropic with dedicated compute capacity for Claude across multiple customer segments.

Anthropic is a prominent AI R&D company known for Claude, its well-regarded large language model.

The deal positions Theseus as an asset-backed financing model—owning and leasing data center assets to AI companies under long-term contracts—shifting away from corporate-owned infrastructure and potentially enabling IPO-ready cost predictability.

This arrangement represents a distinct category of deal, moving beyond chip-leasing SPVs and hyperscaler cloud agreements to real estate-backed financing that can be modeled and disclosed in an IPO prospectus, potentially improving cost predictability for investors.

Data centers are increasingly viewed as strategic assets, with global spend on digital infrastructure forecast to rise toward trillions, driven by AI model training and inference needs.

The deal signals a shift to asset-backed financing where investors fund, own, and lease data center assets to AI firms under long-term contracts, reducing direct capital risk for the AI companies.

In 2025, Anthropic signaled plans to invest about $50 billion in US data centers and secured a $35 billion loan to lease chips at five centers with Google backing.