GPU Cloud Capacity Lease

Lambda missed its deadline to secure the data center lease underpinning a $34.9B GPU capacity commitment, triggering an exit clause in the August 2026 agreement that Anthropic disclosed in its amended S-1. Neither party has issued notice, and Anthropic says it does not currently intend to walk away. Exiting would erase the commitment but leave Anthropic short of capacity it cannot quickly replace, pushing it toward pricier short-term compute.