id,date,buyer,buyer_type,provider,provider_type,type,value_usd,value_status,value_note,capacity_mw,gpus,chips,term_years,status,summary,source_url,source_type,checked
undisclosed-hyperscaler-fermi-america-2026-11,2026-11-12,Undisclosed investment-grade hyperscaler,Hyperscaler,Fermi America,Capacity landlord,Capacity contract,200000000,confirmed,customer prepayment agreement only; lease value not disclosed; plus $15M early construction agreement and ~$90M steel purchase agreement being finalized,600,,,,reported,"Agreements to advance an initial 600 MW at Project Matador from 2027, including a $200 million customer prepayment; no lease signed as of 12 November 2026.",https://www.sec.gov/Archives/edgar/data/2071778/000121390026118351/ea031197701ex99-1.htm,sec,2026-11-15
undisclosed-naver-cloud-2026-11,2026-11-12,Undisclosed US AI inference company,Undisclosed,NAVER Cloud (AI Factory),Neocloud,Capacity contract,1500000000,reported,"about 2 trillion won; contract period, pricing and cancellation terms not disclosed",20,,NVIDIA next-generation GPUs (not specified),,reported,"NAVER disclosed on 12 November 2026 a computing-services contract of about 2 trillion won (about $1.5 billion) with an unnamed US AI inference company, covering about 20 MW of next-generation GPU capacity for its AI Factory, with revenue expected from the first half of 2027.",https://technode.global/2026/11/13/naver-ai-factory-us-customer-contract/,media,2026-11-15
anthropic-strategic-investors-2026-11,2026-11-10,Anthropic,Frontier lab,"Google, NVIDIA, AMD, Broadcom, Micron, Microsoft, TSMC",Chip vendor,Equity + compute,26000000000,confirmed,"aggregate; Class N common stock bought severally at the IPO price, concurrent with the IPO; includes Google exercising its $10B option and AMD $2.5B (reduces the AMD $5B equity commitment to $2.5B and Google 2026 NPA from $20B to $10B)",,,,,confirmed,"Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC agreed to buy $26.0 billion of Anthropic Class N stock at the IPO price in a private placement concurrent with the offering (registration statement amendment, 10 November 2026).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm,sec,2026-11-15
together-ai-rackspace-2026-11,2026-11-10,Together AI,Neocloud,Rackspace,Neocloud,Capacity contract,,,no value disclosed; deployment planned for 2027 subject to conditions; Rackspace has no definitive GPU financing commitment yet; separate non-binding LOI on joint go-to-market,,,NVIDIA GB300 NVL72,,confirmed,"Rackspace and Together AI announced an initial multiyear agreement for Rackspace to operate dedicated Nvidia GB300 NVL72 systems for Together AI inference workloads, with deployment planned for 2027 subject to conditions; no value was disclosed and Rackspace had not yet obtained GPU financing (company announcement, 10 November 2026).",https://ir.rackspace.com/news-releases/news-release-details/rackspace-and-together-ai-announce-strategic-agreement-support/,company_pr,2026-11-15
whitefiber-morgan-stanley-2026-11,2026-11-09,"WhiteFiber (Enovum NC-1 Bidco, LLC)",Neocloud,"Morgan Stanley Senior Funding, Inc. (administrative agent, lead arranger) and lenders",Lender,Debt financing,300000000,confirmed,$200.0M initial term loan + $100.0M delayed-draw term loan; Term SOFR (2.00% floor) + 6.00%; unfunded at report date,,,,,confirmed,"Term loan of up to $300.0 million for Phase 1 construction of the NC-1 data center in Madison, North Carolina, agreed on 9 November 2026 and not yet funded.",https://www.sec.gov/Archives/edgar/data/2042022/000121390026117723/ea0311622-8k_whitefiber.htm,sec,2026-11-15
humain-infra-2026-11,2026-11-09,HUMAIN,Sovereign,National Infrastructure Fund (Infra),Lender,Debt financing,667000000,confirmed,"up to SAR 2.5B across two agreements (about SAR 1.1B for GPU purchase and deployment, SAR 1.4B for power infrastructure per Arab News); tenor and pricing not disclosed",,,,,confirmed,The National Infrastructure Fund and HUMAIN signed two financing agreements totaling up to SAR 2.5 billion (about $667 million) on 9 November 2026 for AI computing deployment and power infrastructure in Saudi Arabia.,https://english.aawsat.com/business/5339534-humain-secures-667-million-infra-financing-advance-saudi-arabia%E2%80%99s-ai,media,2026-11-15
undisclosed-lab-iren-2026-11,2026-11-05,Undisclosed frontier AI lab,Frontier lab,IREN,Neocloud,Capacity contract,,,expansion of an existing contract; value and MW not disclosed,,,,,confirmed,IREN said it expanded an existing contract with an unnamed frontier AI lab after the quarter ended 30 September 2026; value and capacity not disclosed.,https://www.sec.gov/Archives/edgar/data/1878848/000187884826000065/irenreportsq1-fy27result.htm,sec,2026-11-10
terawulf-google-2026-11,2026-11-04,TeraWulf,Capacity landlord,Google Cloud,Hyperscaler,Backstop,19000000000,confirmed,value = contracted Anthropic lease commitments the backstopped debt supports; credit-support amount not disclosed,401,,,,confirmed,$19 billion is the value of Anthropic's lease commitments that the Google-supported financing covers; the amount of Google's credit support was not disclosed.,https://www.sec.gov/Archives/edgar/data/1083301/000162828026069810/wulfhawesvillecsaandepcmpr.htm,sec,2026-11-09
anthropic-riot-2026-11,2026-11-04,Anthropic,Frontier lab,Riot Platforms,Capacity landlord,Colocation lease,28000000000,confirmed,approx. total contract value over 15-year term; ~$54B if both 5-year extensions exercised; ~$1.8B average annual rent,910,,,15,confirmed,"About $28 billion over the 15-year powered-land lease, about $54 billion if both 5-year extensions are exercised; the tenant fits out the 910 MW campus, delivered in phases from September 2027 to July 2028.",https://www.sec.gov/Archives/edgar/data/0001167419/000110465926122368/riot-ex99d1.htm,sec,2026-11-09
nscale-nvidia-2026-10,2026-10-29,Nscale,Neocloud,NVIDIA,Chip vendor,Backstop,,,'billions of dollars' of debt; amount not reported (a >$5B estimate in DCD is unconfirmed),460,,NVIDIA Vera Rubin,,reported,Reported talks for Nvidia to guarantee billions of dollars of Nscale debt for a second phase used by Anthropic; amount not reported.,https://thenextweb.com/news/nvidia-nscale-anthropic-data-centre-debt-guarantee,media,2026-11-09
spacexai-apollo-2026-10,2026-10-26,SpaceXAI,Frontier lab,Apollo (managed entity),Lender,Debt financing,40000000000,confirmed,about $40B binding commitment; Apollo-managed entity buys GPUs and servers and leases them to SpaceX; close expected by year-end 2026,,,NVIDIA Vera Rubin,5,confirmed,"A binding commitment of about $40 billion: an entity managed by Apollo buys GPUs and related servers and leases them to SpaceX for about five years from delivery; closing expected by the end of 2026, with leases starting in the first half of 2027.",https://techcrunch.com/2026/10/26/spacex-locks-in-40b-gpu-financing-deal-with-apollo/,media,2026-11-10
nebius-humain-2026-10,2026-10-22,Nebius,Neocloud,Humain,Sovereign cloud,Capacity contract,,,no value disclosed; preliminary agreement,50,,,,confirmed,"HUMAIN and DataVolt announced on 21 October 2026 a preliminary framework agreement under which Nebius would become an anchor customer at the Oxagon campus in NEOM, with an offtake of up to 50 MW from the fourth quarter of 2027; the offtake agreement is not final and no value was disclosed.",https://www.arabnews.com/eye-on-ai/nebius-becomes-humains-first-customer-for-ai-giga-campus-at-neom-3007677,media,2026-11-15
thinking-machines-firmus-2026-10,2026-10-21,Thinking Machines Lab,Neolab,Firmus,Neocloud,Capacity contract,,,no value disclosed; anchor customer of the Firmus AI-Cloud Region in Asia,,,NVIDIA GB300,,confirmed,"Firmus announced in October 2026 a multi-year agreement under which Thinking Machines Lab becomes anchor customer of its Asia AI-Cloud Region, training and deploying models on Nvidia GB300 systems; no value was disclosed.",https://firmus.co/newsroom/firmus-announces-multi-year-partnership-to-accelerate-thinking-machines-lab-s-frontier-ai-development,company_pr,2026-11-15
anthropic-nscale-2026-10,2026-10-19,Anthropic,Frontier lab,Nscale,Neocloud,Capacity contract,45000000000,reported,about; second deal under negotiation,460,,NVIDIA Vera Rubin,,reported,"Reported by Bloomberg as talks on a second deal of about $45 billion. Nscale stated in its amended registration statement (12 November 2026) that Anthropic exercised on 29 September 2026 its right to contract for additional compute at Building 2 of the Monarch campus, with 60 days to negotiate an agreement; no agreement had been signed.",https://thenextweb.com/news/nscale-and-anthropic-reportedly-in-talks-over-second-45bn-deal,media,2026-11-09
anthropic-iren-2026-10,2026-10-12,Anthropic,Frontier lab,IREN,Neocloud,Capacity contract,,,multiyear; value not reported,,,,,reported,"Reported multiyear cloud agreement (The Information, October 2026); not announced by either company and no value reported.",https://cryptobriefing.com/anthropic-reportedly-signs-multiyear-cloud-deal-with-iren-the-information/,media,2026-11-10
stonebriar-abs-2026-10,2026-10-07,Stonebriar Commercial Finance,Enterprise,ABS investors,Lender,Debt financing,869000000,reported,equipment ABS; GPU loans ~15% of collateral,,,,,reported,Equipment asset-backed securities in which GPU loans are about 15% of the collateral; pricing was not confirmed.,https://www.thestar.com.my/business/business-news/2026/10/07/gpu-financing-filters-into-abs-with-stonebriar-wingspire-deals,media,2026-11-09
coreweave-adaniconnex-2026-10,2026-10-07,CoreWeave,Neocloud,AdaniConneX,Capacity landlord,Colocation lease,,,no value disclosed; planned capacity,240,,NVIDIA Vera Rubin,,confirmed,"Planned 240 MW across three 80 MW buildings at AdaniConneX's Taloja campus in Navi Mumbai, with CoreWeave as sole tenant and an option to add up to 240 MW; first phase expected in mid-2028. No value disclosed.",https://www.nasdaq.com/press-release/coreweave-enters-india-expanding-ai-cloud-platform-adaniconnex-2026-10-07,company_pr,2026-11-10
lambda-jpmorgan-2026-10,2026-10-01,Lambda,Neocloud,J.P. Morgan (sole coordinating lead arranger),Lender,Debt financing,1008000000,confirmed,"delayed draw term loan, 6.78% fixed; final maturity May 30 2033",,,,6.7,confirmed,,https://www.financialcontent.com/article/bizwire-2026-10-1-lambda-closes-1-billion-senior-secured-fixed-rate-financing,company_pr,2026-11-09
sharon-ai-goldman-2026-10,2026-10-01,Sharon AI,Neocloud,Goldman Sachs and private credit funds (Jarden arranger),Lender,Debt financing,356000000,confirmed,"senior secured GPU-backed SPV facility, 9.95% fixed (excl. fees)",,68000,NVIDIA,,confirmed,,https://www.sec.gov/Archives/edgar/data/2068385/000149315226045368/ex99-1.htm,sec,2026-11-09
cohere-boost-run-2026-09,2026-09-30,Cohere,Neolab,Boost Run,Neocloud,Capacity contract,525600000,confirmed,"committed payments over the term (about five years per rack from acceptance), part prepaid; subject to delivery and acceptance",,,,5,confirmed,"Dedicated GPU cloud infrastructure for Cohere; about $525.6 million committed over terms of about five years per rack, with initial acceptance expected from the second quarter of 2027 and a refund right if a minimum amount is not accepted by 15 July 2027.",https://www.sec.gov/Archives/edgar/data/2090646/000149315226045861/form8-k.htm,sec,2026-11-10
vultr-hpe-2026-09,2026-09-30,Vultr,Neocloud,HPE,Chip vendor,GPU purchase,1200000000,confirmed,order value,,,AMD Helios AI Rack by HPE,,confirmed,"A $1.2 billion order for AMD Helios AI racks built by HPE, to be deployed across Vultr's U.S. cloud data centers; HPE's first order for the platform.",https://pulse2.com/hpe-secures-1-2-billion-amd-helios-order-from-vultr/,media,2026-11-10
meta-firmus-2026-09,2026-09-29,Meta,Hyperscaler,Firmus,Neocloud,Capacity contract,,,financial terms not disclosed; contracted capacity plus expansion options,,,NVIDIA (DSX platform),,confirmed,"GPU compute capacity for Meta at Firmus data centre facilities in Southeast Asia, with contracted capacity and expansion options on Nvidia's DSX platform; financial terms not disclosed.",https://www.channelnewsasia.com/business/meta-taps-australias-firmus-ai-computing-capacity-in-southeast-asia-6416946,media,2026-11-10
fluidstack-cipher-2026-09,2026-09-25,Fluidstack,Neocloud,Cipher Digital,Capacity landlord,Colocation lease,5200000000,confirmed,incremental contracted revenue from 10-year extension; total Barber Lake contracted revenue > $9B,,,,10,confirmed,Incremental revenue from extending the Barber Lake lease to 20 years; total contracted revenue at the site exceeds $9 billion.,https://www.sec.gov/Archives/edgar/data/1819989/000181998926000043/barberlakeleaseamendmentpr.htm,sec,2026-11-09
anthropic-akamai-2026-09,2026-09-24,Anthropic,Frontier lab,Akamai,Hyperscaler,Capacity contract,11600000000,confirmed,contractual commitment over 7 years; potential expansion up to an additional $9B (total ~ $20B); Akamai issued Anthropic a warrant for up to ~5% of its stock tied to expansion,,,CPU cloud (Akamai Cloud Infrastructure Services),7,confirmed,Seven-year commitment with potential expansion of up to $9 billion more; Akamai issued Anthropic a warrant for up to about 5% of its stock tied to the expansion.,https://www.sec.gov/Archives/edgar/data/1086222/000119312526401048/d288154dex991.htm,sec,2026-11-09
thinking-machines-crusoe-2026-09,2026-09-23,Thinking Machines Lab,Neolab,Crusoe,Neocloud,Capacity contract,65000000,confirmed,per year; term not disclosed,,,NVIDIA HGX B200,,confirmed,A $65 million annual agreement for Crusoe Managed Inference to serve Thinking Machines Lab models on a dedicated deployment of Nvidia HGX B200 systems; term not disclosed.,https://www.crusoe.ai/resources/newsroom/crusoe-thinking-machines-lab-inference-partnership,company_pr,2026-11-10
coreweave-notes-2026-09,2026-09-18,CoreWeave,Neocloud,Bond investors (144A),Lender,Debt financing,3700000000,confirmed,upsized 2.875% convertible senior notes due Apr 1 2033; ~22.5% conversion premium,,,,6.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000432/ex991pricing.htm,sec,2026-11-09
nscale-nvidia-2026-09,2026-09-15,Nscale,Neocloud,NVIDIA,Chip vendor,Equity + compute,1000000000,confirmed,$1.0B commitment from Nvidia within Nscale's $3.36B pre-IPO convertible loan notes (led by Third Point); funding expected mid-November 2026; converts into non-voting shares on IPO,,,,,confirmed,Nvidia committed $1 billion to Nscale's $3.36 billion pre-IPO convertible financing led by Third Point (announced 25 September 2026); the Nvidia tranche is expected to fund in mid-November 2026 and converts into non-voting shares when the IPO completes. Nscale's amended registration statement of 12 November 2026 states that the Nvidia purchase is to close on or around 16 November 2026.,https://www.nscale.com/press-releases/pre-ipo-convertible-financing,company_pr,2026-11-10
digitalocean-mufg-2026-09,2026-09-10,DigitalOcean,Neocloud,"MUFG (agent); Axos, BMO, Wells Fargo",Lender,Debt financing,725000000,confirmed,equipment finance facility maturing Sep 10 2030; accordion up to $300M,,,GPU/CPU equipment,4,confirmed,Equipment finance facility maturing September 2030 with an accordion of up to $300 million. DigitalOcean's Q3 2026 results refer to a $785 million equipment lease facility; the results do not say whether this is the same facility after an increase.,https://www.sec.gov/Archives/edgar/data/1582961/000110465926106704/tm2625205d1_ex99-1.htm,sec,2026-11-09
fluidstack-osc-2026-09,2026-09-10,Fluidstack,Neocloud,U.S. DoD Office of Strategic Capital,Lender,Debt financing,5000000000,reported,roughly $5B loan in negotiation,,,,,reported,Reported by The Wall Street Journal as a loan of about $5 billion under negotiation.,https://www.datacenterdynamics.com/en/news/pentagon-in-talks-to-loan-fluidstack-5bn-report/,media,2026-11-09
openai-firmus-2026-09,2026-09-08,OpenAI,Frontier lab,Firmus,Neocloud,Capacity contract,,,no value disclosed; two AI Factory sites in Malaysia; OpenAI becomes an anchor customer,,,,,confirmed,Firmus and OpenAI announced on 8 September 2026 a multi-year partnership under which OpenAI contracts dedicated compute capacity at two Firmus AI Factory sites in Malaysia; no value was disclosed.,https://firmus.co/newsroom/firmus-surpasses-900-mw-contracted-capacity-adds-openai-as-anchor-customer-and-expands-into-malaysia,company_pr,2026-11-15
anthropic-banks-2026-09,2026-09-04,Anthropic,Frontier lab,"Morgan Stanley (lead), Goldman Sachs, JPMorgan, Citigroup and others",Lender,Debt financing,15000000000,confirmed,expanded revolving credit facility (from $2.5B; initial target ~$10B); top banks asked for ~$1.25B each,,,,,confirmed,"In September 2026 Anthropic entered into an amended and restated credit agreement for a $15.0 billion senior secured revolving credit facility maturing on 4 September 2031, with Morgan Stanley Senior Funding as administrative agent; it was undrawn at 30 September 2026 (registration statement amendment, 10 November 2026).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm,sec,2026-11-15
jane-street-crusoe-2026-09,2026-09-03,Jane Street,Enterprise,Crusoe,Neocloud,Capacity contract,13000000000,reported,roughly $13B over five years (reported),,,,5,reported,Reported by Bloomberg as about $13 billion over five years; neither company confirmed.,https://thenextweb.com/news/crusoe-jane-street-13-billion-ai-cloud-deal,media,2026-11-09
anthropic-lambda-2026-08,2026-08-31,Anthropic,Frontier lab,Lambda,Neocloud,Capacity contract,34900000000,confirmed,"August 2026 agreement; aggregate of May, June and Aug 2026 Lambda Agreements ~ $41.3B over terms into 2034",350,,NVIDIA GPUs,6,confirmed,"The August 2026 agreement ($34.9 billion of about $41.3 billion in total across May, June and August 2026 agreements, into 2034). Anthropic's registration statement amendment of 10 November 2026 states that Lambda did not secure the facility lease by the specified date, that the August agreement is therefore terminable by either party, that no notice of termination had been delivered and that Anthropic does not currently intend to terminate.",https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm,sec,2026-11-15
lambda-morgan-stanley-2026-08,2026-08-27,Lambda,Neocloud,Morgan Stanley (lead left arranger); MUFG,Lender,Debt financing,926000000,confirmed,"senior secured term loan B, SOFR+3.00%, issued at 99.5%; matures Dec 31 2030, fully amortizing",,,,4.3,confirmed,,https://lambda.com/blog/lambda-closes-926-million-senior-secured-term-loan-b-facility,company_pr,2026-11-09
volta-jpmorgan-2026-08,2026-08-27,Volta,Neocloud,JPMorgan and Goldman Sachs (arrangers),Lender,Debt financing,5000000000,reported,US$5B leveraged loan; sold to investors mid-October 2026 at SOFR + 6.5 pp and 95 cents on the dollar (people familiar),,,,,reported,"A US$5 billion leveraged loan for Volta's data center complex in Norway, arranged by JPMorgan and Goldman Sachs; reported sold to investors in mid-October 2026 at 6.5 percentage points over the benchmark rate and 95 cents on the dollar (reported, not confirmed).",https://www.businesstimes.com.sg/companies-markets/banking-finance/jpmorgan-goldman-boost-yield-volta-ai-loan-lure-investors,media,2026-11-10
anthropic-nscale-2026-08,2026-08-26,Anthropic,Frontier lab,Nscale,Neocloud,Capacity contract,44600000000,confirmed,up to; aggregate over terms into 2033; fees accrue only as capacity is delivered and accepted,460,,NVIDIA (Vera Rubin per media),,confirmed,Up to about $44.6 billion into 2033; fees accrue only as capacity is delivered and accepted.,https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
broadcom-lenders-2026-08,2026-08-21,Broadcom,Chip vendor,"Lenders incl. Blackstone, Apollo (in talks)",Lender,Debt financing,60000000000,reported,'more than $60bn' sought; talks,,,Broadcom custom XPUs for Anthropic and others,,reported,Reported by Bloomberg as more than $60 billion sought from lenders; talks.,https://thenextweb.com/news/broadcom-60bn-ai-chip-debt-anthropic,media,2026-11-09
openai-sb-energy-2026-08,2026-08-17,OpenAI,Frontier lab,SB Energy,Capacity landlord,Colocation lease,,,no lease value disclosed,8000,,NVIDIA (exclusively hosts NVIDIA AI compute),20,confirmed,,https://www.sec.gov/Archives/edgar/data/1045810/000104581026000069/sbeoainvidia-portsrelease.htm,sec,2026-11-09
sb-energy-nvidia-2026-08,2026-08-17,SB Energy,Capacity landlord,NVIDIA,Chip vendor,Backstop,105000000000,confirmed,"cap on Nvidia guarantees (credit support for land, power and shell); expected to decrease over each phase's 20-year lease term",4250,,,20,confirmed,"Cap on Nvidia's guarantees of land, power and shell payments for OpenAI's leases at the PORTS campus in Ohio, expected to decline over each phase's 20-year lease.",https://www.sec.gov/Archives/edgar/data/1045810/000104581026000075/nvda-20260726.htm,sec,2026-11-09
sb-energy-nvidia-2026-08-2,2026-08-17,SB Energy,Capacity landlord,NVIDIA,Chip vendor,Equity + compute,1500000000,confirmed,Nvidia equity investment in SB Energy,,,,,confirmed,,https://www.sec.gov/Archives/edgar/data/1045810/000104581026000069/sbeoainvidia-portsrelease.htm,sec,2026-11-09
tensorwave-fermi-2026-08,2026-08-12,TensorWave,Neocloud,Fermi America,Capacity landlord,Capacity contract,6500000000,reported,"about; 15-year lease value as stated in law-firm announcement (Foley, 12 Aug 2026); first phase 222 MW with AMD credit support, expansion to >650 MW; terminated 2026-11-12",222,,AMD Instinct,15,confirmed,"Lease signed in August 2026 for a first phase of 222 MW at Project Matador; it did not take effect and Fermi and TensorWave terminated it, together with the AMD credit support agreement, as reported on 12 November 2026.",https://www.sec.gov/Archives/edgar/data/2071778/000121390026118351/ea031197701ex99-1.htm,sec,2026-11-15
coreweave-jpmorgan-2026-08,2026-08-10,CoreWeave,Neocloud,"JPMorgan, MUFG (joint lead arrangers)",Lender,Debt financing,2600000000,confirmed,delayed draw term loan; SOFR+5.50%; ~5-year maturity,,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000357/ex991pr.htm,sec,2026-11-09
undisclosed-lab-riot-2026-08,2026-08-10,Anthropic,Frontier lab,Riot Platforms,Capacity landlord,Colocation lease,9100000000,confirmed,total initial contract revenue; ~$16.1B if both extensions exercised,191,,,20,confirmed,Total initial contract revenue for 191 MW at Rockdale; about $16.1 billion if both extensions are exercised.,https://www.sec.gov/Archives/edgar/data/1167419/000110465926093406/riot-20260810xex99d1.htm,sec,2026-11-09
anthropic-volta-2026-08,2026-08-04,Anthropic,Frontier lab,Volta,Neocloud,Capacity contract,10000000000,reported,six-year contract,133,,NVIDIA Vera Rubin,6,reported,"Volta announced a $10 billion, six-year contract with an unnamed AI lab; Bloomberg reported that the customer is Anthropic.",https://www.thestar.com.my/tech/tech-news/2026/08/04/ai-cloud-startup-volta-valued-at-24-billion-announces-10-billion-ai-partnership,media,2026-11-09
volta-bitdeer-2026-08,2026-08-04,Volta,Neocloud,Bitdeer,Capacity landlord,Colocation lease,4700000000,confirmed,contracted revenue over 16-year base term; 8-year renewal option -> ~$8.0B over 24 years,121,,NVIDIA Rubin,16,confirmed,Contracted revenue over the 16-year base term; an 8-year renewal option would take it to about $8.0 billion.,https://finviz.com/news/376679/bitdeer-announces-47-billion-16-year-aihpc-data-center-lease-for-tydal-norway-campus,company_pr,2026-11-09
nexus-google-2026-07,2026-07-30,Nexus Data Centers (Anthropic Hubbard TX campus),Capacity landlord,Google Cloud,Hyperscaler,Backstop,,,Google backs Anthropic's lease and power-payment commitments (amount not disclosed; 'minimum level required by lenders'); Google to receive ~20% equity in the DC + power project,1600,,,,reported,"Reported by The Wall Street Journal: Google would back Anthropic's lease and power payments at the Hubbard, Texas campus and receive about 20% of the project; terms not confirmed.",https://www.thestar.com.my/tech/tech-news/2026/07/31/banks-in-talks-to-lend-15-billion-for-anthropic-data-center-backed-by-google-wsj-reports,media,2026-11-09
nexus-morgan-stanley-2026-07,2026-07-30,Nexus Data Centers,Capacity landlord,Morgan Stanley-led bank group,Lender,Debt financing,15000000000,reported,$14B bridge loan + revolving credit facility; bridge to be refinanced,1600,,Google/Broadcom TPU (per reports),,reported,Reported as advanced talks on a $14 billion bridge loan and a revolving credit facility; not closed.,https://www.thestar.com.my/tech/tech-news/2026/07/31/banks-in-talks-to-lend-15-billion-for-anthropic-data-center-backed-by-google-wsj-reports,media,2026-11-09
amd-core-scientific-2026-07,2026-07-28,AMD,Chip vendor,Core Scientific,Capacity landlord,Colocation lease,,,value not disclosed; Core Scientific issues AMD market-priced warrants subject to commercial conditions,500,,,,confirmed,"More than 500 MW from 2027 and up to 2.5 GW; the value was not disclosed, and Core Scientific issues AMD market-priced warrants.",https://www.sec.gov/Archives/edgar/data/1839341/000183934126000012/amdpr.htm,sec,2026-11-09
galaxy-notes-2026-07,2026-07-28,Galaxy Digital (Galaxy Helios Data Centers II LLC),Capacity landlord,Bond investors (144A),Lender,Debt financing,3507000000,confirmed,9.875% senior secured notes due Aug 1 2031,260,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1859392/000185939226000079/glxy-20260728.htm,sec,2026-11-09
undisclosed-hut8-2026-07,2026-07-20,Undisclosed (Beacon Point Phase 1 tenant),Undisclosed,Hut 8,Capacity landlord,Colocation lease,9800000000,confirmed,expected base-term contract value of Phase 2,352,,,15,confirmed,Phase 2 of Beacon Point; together with Phase 1 the tenant leases 704 MW for about $19.6 billion.,https://www.sec.gov/Archives/edgar/data/1964789/000110465926084862/tm2620835d1_ex99-1.htm,sec,2026-11-09
nebius-mufg-2026-07,2026-07-17,Nebius,Neocloud,"MUFG (structuring agent); ABN AMRO, Bank of America, Deutsche Bank, HSBC (MLAs)",Lender,Debt financing,775000000,confirmed,first senior secured GPU-backed facility; SOFR+2.50%; matures Oct 31 2030,,,,4.3,confirmed,,https://www.sec.gov/Archives/edgar/data/1513845/000110465926084452/tm2620683d1_ex99-1.htm,sec,2026-11-09
undisclosed-lab-sharonai-2026-07,2026-07-16,Undisclosed global AI lab,Undisclosed,SharonAI,Neocloud,Capacity contract,1320000000,confirmed,over five years,,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/2068385/000149315226035629/forms-1.htm,sec,2026-11-09
anthropic-terawulf-2026-07,2026-07-06,Anthropic,Frontier lab,TeraWulf,Capacity landlord,Colocation lease,19000000000,confirmed,approx. contracted revenue over initial 20-year lease term,401,,,20,confirmed,Approximate contracted revenue over the initial 20-year lease; Google provides credit support for the project financing.,https://www.sec.gov/Archives/edgar/data/1083301/000110465926080583/tm2619468d1_ex99-1.htm,sec,2026-11-09
anthropic-amd-2026-07,2026-07-01,Anthropic,Frontier lab,AMD,Chip vendor,Chip supply,20000000000,confirmed,expected aggregate expenditure 'to exceed $20.0B' if full initial tranche procured; no fixed dollar commitment; option for additional capacity up to ~the initial amount,,,"AMD Helios rack-scale, Instinct MI450",,confirmed,"Expected spend above $20 billion if the full initial capacity is procured; there is no fixed dollar commitment, and an option covers additional capacity.",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
anthropic-amd-2026-07-2,2026-07-01,Anthropic,Frontier lab,AMD,Chip vendor,Equity + compute,5000000000,confirmed,"up to; AMD commitment to purchase Anthropic Class N stock, drawable in increments as AMD GPU delivery/deployment milestones are met (first expected 2027)",,,AMD Instinct MI450,,confirmed,"Up to $5 billion of Anthropic stock that AMD commits to buy in increments as GPU delivery milestones are met, the first expected in 2027.",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
reflection-spacexai-2026-06,2026-06-22,Reflection AI,Neolab,SpaceXAI,Neocloud,Capacity contract,6300000000,reported,per CNBC: $150M/month from Jul 1 2026 through 2029 (~$6.3B if full term); 90-day exit after first three months,,,NVIDIA GB300,3,confirmed,,https://www.thestar.com.my/tech/tech-news/2026/06/23/ai-startup-reflection-signs-computing-power-deal-with-spacex,media,2026-11-09
coreweave-notes-2026-06,2026-06-18,CoreWeave,Neocloud,Bond investors (144A),Lender,Debt financing,1250000000,confirmed,USD tranche only: $1.25B 9.625% senior notes due Jul 15 2032; plus EUR 2.0B 8.500% senior notes due 2032 (not converted; investor deck sized the USD/EUR deal at ~$3.5B),,,,6,confirmed,US dollar tranche only ($1.25 billion of 9.625% notes due 2032); CoreWeave issued EUR 2.0 billion of 8.500% notes due 2032 at the same time.,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000291/crwv-20260618.htm,sec,2026-11-09
applied-digital-notes-2026-06,2026-06-09,Applied Digital (APLD ComputeCo 3 LLC),Capacity landlord,Bond investors (144A),Lender,Debt financing,1590000000,confirmed,7.000% senior secured notes due 2031,150,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1144879/000149315226027979/ex99-1.htm,sec,2026-11-09
broadcom-apollo-2026-06,2026-06-09,Broadcom AI XPV Platform,Chip vendor,Apollo (lead); Blackstone Credit & Insurance,Lender,Debt financing,35000000000,confirmed,initial tranche; platform targets >20 GW of AI compute through 2028; Bloomberg: split into three tranches,20000,,Broadcom custom XPUs (incl. Google TPU racks),,confirmed,Initial $35 billion tranche of a financing platform that targets more than 20 GW of AI compute through 2028.,https://convergedigest.com/broadcom-targets-20-gw-of-ai-compute-capacity-with-35b-financing/,media,2026-11-09
cipher-notes-2026-06,2026-06-08,Cipher Digital (Stingray Compute LLC),Capacity landlord,Bond investors (144A),Lender,Debt financing,810000000,confirmed,6.000% senior secured notes due 2031,,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1819989/000095010326008678/dp248139_ex9901.htm,sec,2026-11-09
nvidia-sharonai-2026-06,2026-06-08,NVIDIA,Chip vendor,SharonAI,Neocloud,Capacity contract,4880000000,confirmed,"up to; Master Cloud Services Agreement, GPU clusters delivered in phases",72,40000,NVIDIA GB300,6,confirmed,Up to $4.88 billion; GPU clusters are delivered in phases.,https://www.sec.gov/Archives/edgar/data/2068385/000149315226028370/form8-k.htm,sec,2026-11-09
undisclosed-hyperscaler-applied-digital-2026-06-delta-forge-2,2026-06-08,Undisclosed tier-one investment-grade hyperscaler,Hyperscaler,Applied Digital,Capacity landlord,Colocation lease,5200000000,confirmed,approx. base-term contracted revenue,210,,,15,confirmed,"A 210 MW, 15-year lease at the Delta Forge 2 campus in Alabama with an unnamed tier-one investment-grade hyperscaler, about $5.2 billion of base-term contracted revenue.",https://www.sec.gov/Archives/edgar/data/1144879/000114487926000057/apldq127earningsrelease.htm,sec,2026-11-10
google-spacexai-2026-06,2026-06-05,Google Cloud,Hyperscaler,SpaceXAI,Neocloud,Capacity contract,30360000000,confirmed,"computed: $920M/month x 33 months (Oct 2026-Jun 2029); terminable by either party on 90 days' notice after Dec 31 2026, so realised value may be lower",,110000,NVIDIA GPUs,2.75,confirmed,Calculated from $920 million a month from October 2026 to June 2029; either party may terminate on 90 days' notice after 31 December 2026.,https://www.sec.gov/Archives/edgar/data/1181412/000162828026041150/spacexagreementfwp.htm,sec,2026-11-09
hut8-notes-2026-06,2026-06-04,Hut 8 (Beacon Point DC LLC),Capacity landlord,Investment-grade bond investors (144A private offering),Lender,Debt financing,4250000000,confirmed,"6.129% senior secured notes due Nov 30 2042, fully amortizing from May 2030; non-recourse to Hut 8",352,,,16.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1964789/000110465926070744/tm2616926d1_ex99-1.htm,sec,2026-11-09
iren-goldman-jpmorgan-2026-05,2026-05-29,IREN (Hardware 3),Neocloud,"Goldman Sachs, JPMorgan (joint lead arrangers)",Lender,Debt financing,3600000000,confirmed,"~$1.5B DDTL at SOFR+2.25% + $2.1B 5.96% senior notes, both due Dec 31 2031; IREN PR calls it $3.65bn, Fitch A / DBRS A(low)",,,NVIDIA GB300,5.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1878848/000114036126023427/ef20075181_8k.htm,sec,2026-11-09
thinking-machines-boost-run-2026-05,2026-05-21,Thinking Machines Lab,Neolab,Boost Run,Neocloud,Capacity contract,471700000,confirmed,combined total contract value of two order forms,,5000,NVIDIA B300,3,confirmed,Combined value of two order forms over an initial 36-month term.,https://www.sec.gov/Archives/edgar/data/2090646/000149315226025672/form8-k.htm,sec,2026-11-09
google-blackstone-2026-05,2026-05-19,Google-Blackstone TPU cloud JV,Neocloud,Google Cloud,Hyperscaler,Joint venture,5000000000,confirmed,Blackstone initial equity commitment (majority owner); Bloomberg-sourced reports put total incl. leverage near $25B,500,,Google TPU,,confirmed,Blackstone's initial equity commitment as majority owner of a TPU cloud joint venture with Google; the first 500 MW is expected online in 2027.,https://www.ciodive.com/news/blackstone-google-launch-joint-venture/820653/,media,2026-11-09
coreweave-morgan-stanley-2026-05,2026-05-18,CoreWeave,Neocloud,"Morgan Stanley, MUFG (joint lead arrangers)",Lender,Debt financing,3100000000,confirmed,DDTL 5.0; SOFR+4.50%; ~5.5-year maturity,,,,5.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000236/ex9912.htm,sec,2026-11-09
iren-converts-2026-05,2026-05-12,IREN,Neocloud,Convertible note investors (144A),Lender,Debt financing,2600000000,confirmed,upsized 1.00% convertible senior notes due Dec 1 2033; initial purchasers' option for up to $400M more (media: ~$3B closed),,,,7.5,confirmed,1.00% convertible senior notes due December 2033; the initial purchasers had an option for up to $400 million more.,https://www.sec.gov/Archives/edgar/data/1878848/000114036126020669/ef20073131_ex99-1.htm,sec,2026-11-09
nvidia-iren-2026-05,2026-05-07,NVIDIA,Chip vendor,IREN,Neocloud,Capacity contract,3400000000,confirmed,5-year managed AI cloud contract; IREN also granted Nvidia a right to buy up to 30M shares at $70 (up to $2.1B) and a 5 GW strategic partnership (media),60,,NVIDIA Blackwell (air-cooled),5,confirmed,Five-year managed AI cloud contract; IREN also granted Nvidia the right to buy up to 30 million shares at $70.,https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/irenreportsq3fy26results.htm,sec,2026-11-09
undisclosed-hut8-2026-05,2026-05-06,Undisclosed high-investment-grade tenant (Beacon Point Phase 1),Undisclosed,Hut 8,Capacity landlord,Colocation lease,9800000000,confirmed,"base-term contract value, triple-net take-or-pay",352,,,15,confirmed,Phase 1 of Beacon Point; the tenant is rated AA- or higher and also signed Phase 2 in July 2026.,https://www.sec.gov/Archives/edgar/data/1964789/000110465926055894/hut-20260506xex99d1.htm,sec,2026-11-09
anthropic-spacexai-2026-05,2026-05-03,Anthropic,Frontier lab,SpaceXAI (SpaceX; formerly xAI),Neocloud,Capacity contract,120500000000,confirmed,"up to; aggregate of SpaceXAI Arrangements entered and amended May-Oct 2026 (~$3.1B/month once fully delivered, expected Dec 2026); original May 2026 Cloud Services Agreements = $1.25B/month through May 2029 (SpaceX S-1/A)",,325000,"NVIDIA GPUs (Colossus, Colossus II)",3,confirmed,"Up to $120.5 billion into 2029, about $3.1 billion a month once all capacity is delivered; after the initial non-cancellable periods either side may end the arrangements on 90 days' notice.",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
hut8-notes-2026-04,2026-04-30,Hut 8 (Hut 8 DC LLC),Capacity landlord,Investment-grade bond investors (144A private offering),Lender,Debt financing,3250000000,confirmed,6.192% senior secured notes due 2042; fully amortizing 16.5-year (per Q1 2026 release),245,,,16.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1964789/000110465926053247/tm2613163d1_ex4-1.htm,sec,2026-11-09
xai-valor-2026-04,2026-04-24,SpaceXAI,Frontier lab,Valor Equity Partners,Lender,Debt financing,6587000000,confirmed,"total undiscounted lease payments, five-year equipment lease ('Valor transaction III')",,,NVIDIA,5,confirmed,Total undiscounted payments under a five-year equipment lease of AI infrastructure hardware.,https://www.sec.gov/Archives/edgar/data/1181412/000162828026040364/spaceexplorationtechnologib.htm,sec,2026-11-09
thinking-machines-google-2026-04,2026-04-23,Thinking Machines Lab,Neolab,Google Cloud,Hyperscaler,Capacity contract,,,not disclosed; valued in the single-digit billions per people familiar (TechCrunch),,,NVIDIA GB300 (A4X Max),,confirmed,"Expanded Google Cloud agreement giving Thinking Machines Lab access to AI Hypercomputer infrastructure and A4X Max virtual machines on Nvidia GB300; value not disclosed, reported in the single-digit billions.",https://www.eweek.com/news/google-cloud-deal-mira-murati-thinking-machines-lab/,media,2026-11-10
anthropic-amazon-2026-04,2026-04-20,Anthropic,Frontier lab,Amazon Web Services,Hyperscaler,Capacity contract,110000000000,confirmed,minimum spend May 2026-Apr 2036 (S-1/A); Anthropic's announcement said 'more than $100 billion over the next ten years',5000,,"Trainium2-Trainium4, Graviton",10,confirmed,Minimum spend from May 2026 to April 2036 (registration statement); Anthropic's announcement cited more than $100 billion over ten years and up to 5 GW.,https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
anthropic-amazon-2026-04-2,2026-04-20,Anthropic,Frontier lab,Amazon Web Services,Hyperscaler,Equity + compute,5000000000,confirmed,"~$5.0B Series G-2 purchase + up to $20.0B future debt/equity financing (Amazon 2026 NPA), available in $5B increments as compute capacity milestones are met",,,,,confirmed,"About $5.0 billion of preferred stock, plus up to $20.0 billion of further financing available in $5 billion increments as compute milestones are met (registration statement).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
jane-street-coreweave-2026-04,2026-04-15,Jane Street,Enterprise,CoreWeave,Neocloud,Equity + compute,6000000000,confirmed,~$6B compute commitment; plus $1B equity investment in CoreWeave at $109/share,,,NVIDIA Vera Rubin,,confirmed,About $6 billion of commitments to use CoreWeave's AI cloud; Jane Street also invested $1 billion in CoreWeave stock at $109 a share.,https://coreweave.com/news/jane-street-signs-6-billion-ai-cloud-agreement-with-coreweave,company_pr,2026-11-09
coreweave-notes-2026-04,2026-04-14,CoreWeave,Neocloud,Bond investors (144A),Lender,Debt financing,5750000000,confirmed,$1.75B 9.750% senior notes due Oct 1 2031 + $4.0B 1.75% convertible senior notes due Oct 1 2032 (closed same day),,,,5.5,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000164/crwv-20260409.htm,sec,2026-11-09
anthropic-coreweave-2026-04,2026-04-10,Anthropic,Frontier lab,CoreWeave,Neocloud,Capacity contract,,,financial terms not disclosed,,,,,confirmed,Multi-year agreement; financial terms were not disclosed.,https://coreweave.com/news/coreweave-announces-multi-year-agreement-with-anthropic,company_pr,2026-11-09
anthropic-broadcom-2026-04,2026-04-06,Anthropic,Frontier lab,Broadcom,Chip vendor,Chip supply,161200000000,confirmed,"aggregate rent over the life of Anthropic's five-year Broadcom TPU master equipment leases (incl. the 2026 Lease Arrangement), excl. interest, per Anthropic S-1/A; Broadcom 8-K gives no dollar value; may include the earlier Ironwood rack orders (anthropic-broadcom-2025-12)",3500,,"Google TPU (custom, Broadcom-built), leased as racks",5,confirmed,"About $161.2 billion of aggregate rent, excluding interest, over five-year TPU equipment leases (registration statement); access to about 3.5 GW of TPU compute from 2027 depends on Anthropic's commercial success (Broadcom current report).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
anthropic-google-2026-04,2026-04-06,Anthropic,Frontier lab,Google Cloud,Hyperscaler,Capacity contract,121300000000,confirmed,"minimum spend commitment Apr 2026-Jul 2033 under CSP hosting agreement entered Mar 2026, amended May-Oct 2026; separately est. $125-150B of additional TPU compute for 2028-2031 (no fixed dollar commitment, not included)",,,Google TPU (incl. TPUs supplied through Broadcom),7,confirmed,Minimum spend from April 2026 to July 2033 under a hosting agreement amended between May and October 2026 (registration statement).,https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
anthropic-broadcom-2026-03,2026-03-31,Anthropic,Frontier lab,Broadcom,Chip vendor,Debt financing,42000000000,confirmed,"up to; convertible note facility (Infrastructure Partner 2026 NPA, dated Mar 31 2026) solely to finance rent under the 2026 TPU equipment Lease Arrangement; Broadcom may assign to a financial partner",,,Google TPU (Broadcom-supplied),5,confirmed,Up to $42 billion of convertible notes that Anthropic may issue to Broadcom solely to finance rent under its TPU equipment leases.,https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
coreweave-blackstone-2026-03,2026-03-31,CoreWeave,Neocloud,"Blackstone Credit & Insurance (anchor); MUFG, Morgan Stanley (structuring)",Lender,Debt financing,8500000000,confirmed,delayed draw term loan (DDTL 4.0); ~$7.5B initially drawable; SOFR+2.25% floating / ~5.9% fixed; matures Mar 2032,,,,6,confirmed,"About $7.5 billion is drawable at first, rising to $8.5 billion as assets stabilize; matures in March 2032.",https://www.sec.gov/Archives/edgar/data/1769628/000176962826000129/ex991.htm,sec,2026-11-09
mistral-banks-2026-03,2026-03-30,Mistral AI,Neolab,"Bank consortium (BNP Paribas, Credit Agricole CIB, HSBC, MUFG + 3 others)",Lender,Debt financing,830000000,confirmed,"Mistral's first debt raise; to buy 13,800 Nvidia chips (GB300 per media)",44,13800,NVIDIA GB300,,confirmed,,https://finance.yahoo.com/sectors/technology/articles/frances-mistral-raises-830-million-060341046.html,media,2026-11-09
meta-nebius-2026-03,2026-03-16,Meta,Frontier lab,Nebius,Neocloud,Capacity contract,27000000000,confirmed,up to ~$27B: $12B dedicated capacity + Meta commitment to buy up to $15B of additional capacity over 5 years,,,NVIDIA Vera Rubin,5,confirmed,Up to about $27 billion: $12 billion of dedicated capacity plus Meta's commitment to buy up to $15 billion of additional capacity over five years.,https://www.sec.gov/Archives/edgar/data/1513845/000110465926027886/tm268879d1_ex99-1.htm,sec,2026-11-09
nebius-nvidia-2026-03,2026-03-11,Nebius,Neocloud,NVIDIA,Chip vendor,Equity + compute,2000000000,confirmed,equity investment (structure not in release; media: pre-funded warrants for ~21M shares),5000,,"NVIDIA Rubin, Vera CPUs, BlueField",,confirmed,,https://www.sec.gov/Archives/edgar/data/1513845/000110465926026163/tm268532d1_ex99-1.htm,sec,2026-11-09
thinking-machines-nvidia-2026-03,2026-03-10,Thinking Machines Lab,Neolab,NVIDIA,Chip vendor,Equity + compute,,,deal size and investment amount not disclosed,1000,,NVIDIA Vera Rubin,,confirmed,At least 1 GW of Nvidia Vera Rubin systems; the size of the deal and of Nvidia's investment were not disclosed.,https://techcrunch.com/2026/03/10/thinking-machines-lab-inks-massive-compute-deal-with-nvidia/,media,2026-11-09
applied-digital-notes-2026-03,2026-03-04,Applied Digital (APLD ComputeCo 2 LLC),Capacity landlord,Bond investors (144A),Lender,Debt financing,2150000000,confirmed,"6.750% senior secured notes due 2031, issued at 98%",200,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1144879/000149315226008772/ex99-1.htm,sec,2026-11-09
anthropic-google-2026-03,2026-03-01,Anthropic,Frontier lab,Google Cloud,Hyperscaler,Equity + compute,10000000000,confirmed,~$10.0B Series G-2 preferred purchase + up to $30.0B debt/equity financing through Dec 31 2030 (Google 2026 NPA; reduced to $20B after Google's $10B Series H investment in May 2026); draws tied to third-party compute agreement conditions and revenue targets,,,,,confirmed,"About $10 billion of preferred stock, plus Google's commitment to provide further debt or equity financing through 2030 (registration statement).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm,sec,2026-11-09
aws-cerebras-2026-03,2026-03-01,Amazon Web Services,Hyperscaler,Cerebras,Chip vendor,Chip supply,,,"no value; binding term sheet on pricing, exclusivity, minimum capacity and an initial multi-year lease; warrant to Amazon for up to 2,696,678 Cerebras Class N shares at $100 (issued Jun 2026)",,,Cerebras wafer-scale systems in AWS data centers,,reported,"Binding term sheet on pricing, exclusivity and minimum capacity; definitive agreements were still pending.",https://www.sec.gov/Archives/edgar/data/2021728/000162828026056357/cbrs-20260630.htm,sec,2026-11-09
meta-coreweave-2026-03,2026-03-01,Meta,Frontier lab,CoreWeave,Neocloud,Capacity contract,21000000000,confirmed,new commitment signed in March 2026 (exact day not disclosed in source),,,,,confirmed,"New commitment signed in March 2026, in addition to the September 2025 agreement.",https://www.sec.gov/Archives/edgar/data/1769628/000176962826000220/coreweave1q26earningspress.htm,sec,2026-11-09
openai-amazon-2026-02,2026-02-27,OpenAI,Frontier lab,Amazon Web Services,Hyperscaler,Equity + compute,50000000000,confirmed,$15B initial investment + $35B when conditions are met,,,,,confirmed,$15 billion invested initially and $35 billion when conditions are met; announced with a $100 billion expansion of OpenAI's AWS contract.,https://www.sec.gov/Archives/edgar/data/1018724/000110465926021050/tm267374d1_ex99-1.htm,sec,2026-11-09
openai-aws-2026-02,2026-02-27,OpenAI,Frontier lab,Amazon Web Services,Hyperscaler,Capacity contract,100000000000,confirmed,expansion of the existing $38B agreement by $100B over 8 years,2000,,"Trainium3, Trainium4",8,confirmed,,https://www.sec.gov/Archives/edgar/data/1018724/000110465926021050/tm267374d1_ex99-1.htm,sec,2026-11-09
openai-nvidia-2026-02,2026-02-27,OpenAI,Frontier lab,NVIDIA,Chip vendor,Equity + compute,30000000000,confirmed,"Nvidia equity investment in OpenAI's $110B round (later $122B, closed Mar 31 2026); compute = 3 GW dedicated inference + 2 GW training on Vera Rubin",5000,,NVIDIA Vera Rubin,,confirmed,,https://www.cnbc.com/2026/02/27/open-ai-funding-round-amazon.html,media,2026-11-09
meta-google-2026-02,2026-02-26,Meta,Frontier lab,Google Cloud,Hyperscaler,Capacity contract,,,"'multi-billion dollar', multi-year TPU rental (not disclosed)",,,Google TPU,,reported,"Reported by The Information via Reuters as a multi-year, multi-billion-dollar TPU rental; not confirmed by the companies.",https://www.thestar.com.my/tech/tech-news/2026/02/27/google-signs-multibillion-dollar-ai-chip-deal-with-meta-information-reports,media,2026-11-09
meta-amd-2026-02,2026-02-24,Meta,Frontier lab,AMD,Chip vendor,Chip supply,,,no value disclosed (media estimates ~$60B+); AMD issued Meta a performance-based warrant for up to 160M AMD shares vesting as purchases scale from 1 GW to 6 GW,6000,,"custom AMD Instinct (MI450 architecture), EPYC Venice, Helios rack",,confirmed,No value was disclosed; AMD issued Meta a warrant for up to 160 million shares vesting as purchases scale from 1 GW to 6 GW.,https://www.sec.gov/Archives/edgar/data/2488/000000248826000045/pressreleasedatedfebruary2.htm,sec,2026-11-09
meta-nvidia-2026-02,2026-02-18,Meta,Frontier lab,NVIDIA,Chip vendor,GPU purchase,,,financial terms not disclosed; analysts estimate tens of billions,,,"Blackwell, Rubin GPUs; Grace CPUs (standalone); Vera CPUs from 2027; Spectrum-X",,confirmed,Financial terms were not disclosed.,https://pureai.com/articles/2026/02/18/nvidia-expands-multiyear-ai-infrastructure-deal-with-meta.aspx,media,2026-11-09
nvidia-yotta-2026-02,2026-02-18,NVIDIA,Chip vendor,Yotta Data Services,Neocloud,Capacity contract,1000000000,confirmed,over $1B; four-year engagement to establish a DGX Cloud cluster inside Yotta's Blackwell Ultra supercluster,,,NVIDIA Blackwell Ultra,4,confirmed,Four-year engagement worth over $1 billion under which Nvidia sets up a DGX Cloud cluster in Yotta's infrastructure.,https://www.thestar.com.my/tech/tech-news/2026/02/18/india039s-yotta-to-build-2-billion-ai-hub-with-nvidia039s-blackwell-chips,media,2026-11-15
mistral-ecodatacenter-2026-02,2026-02-11,Mistral AI,Neolab,EcoDataCenter,Capacity landlord,Colocation lease,1400000000,confirmed,EUR 1.2B investment (USD ~1.4B per media conversion),,,NVIDIA Vera Rubin,,confirmed,,https://ecodatacenter.tech/press/mistral-ai-and-ecodatacenter-partner-to-build-ai-focused-data-center-in-sweden-3431886,company_pr,2026-11-09
coreweave-nvidia-2026-01,2026-01-26,CoreWeave,Neocloud,NVIDIA,Chip vendor,Equity + compute,2000000000,confirmed,Class A common stock investment; closed in Q1 2026,5000,,,,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962826000220/coreweave1q26earningspress.htm,sec,2026-11-09
amd-riot-2026-01,2026-01-16,AMD,Chip vendor,Riot Platforms,Capacity landlord,Colocation lease,311000000,confirmed,initial 10-year term; three 5-year extensions bring ~ $1.0B; AMD option +75 MW and ROFR +100 MW (up to 200 MW),25,,,10,confirmed,"Initial 10-year term; three 5-year extensions would bring about $1.0 billion, and AMD holds options on up to 200 MW.",https://www.sec.gov/Archives/edgar/data/1167419/000110465926004551/riot-20260116xex99d1.htm,sec,2026-11-09
cerebras-openai-2026-01,2026-01-14,Cerebras,Chip vendor,OpenAI,Lender,Debt financing,1000000000,confirmed,"secured promissory note ('Working Capital Loan') funded by OpenAI in January 2026, 6% stated interest; repaid via non-cash billings ($918.2M outstanding at Jun 30 2026)",,,,,confirmed,,https://www.sec.gov/Archives/edgar/data/2021728/000162828026056357/cbrs-20260630.htm,sec,2026-11-09
openai-cerebras-2026-01,2026-01-14,OpenAI,Frontier lab,Cerebras,Chip vendor,Capacity contract,20000000000,confirmed,'more than $20 billion' per Cerebras S-1/A; initial Jan 2026 media reports said >$10B (WSJ),750,,Cerebras WSE-3 (wafer-scale inference),,confirmed,"More than $20 billion per Cerebras's registration statement for 750 MW, with an option on 1.25 GW more; January 2026 media reports cited more than $10 billion.",https://www.sec.gov/Archives/edgar/data/2021728/000162828026033143/cerebras-sx1a2.htm,sec,2026-11-09
xai-valor-2026-01,2026-01-01,xAI (CTC subsidiary),Frontier lab,Valor Equity Partners,Lender,Debt financing,5365000000,confirmed,"debt recorded for 'Valor transaction II' GPU equipment lease (failed sale-leaseback); entered Jan 2026, amended Feb 18 2026",,,NVIDIA,,confirmed,,https://www.sec.gov/Archives/edgar/data/1181412/000162828026040364/spaceexplorationtechnologib.htm,sec,2026-11-09
anthropic-hut8-2025-12,2025-12-17,Anthropic,Frontier lab,Hut 8,Capacity landlord,Colocation lease,,,no value for the partnership; tranche 1 is the $7.0B 15-year River Bend lease to Fluidstack (see related),245,,,,confirmed,"At least 245 MW and up to 2,295 MW; the first tranche is the $7.0 billion, 15-year River Bend lease signed by Fluidstack.",https://canada.hut8.com/resources/press-releases/hut-8-announces-ai-infrastructure-partnership-with-anthropic-and-fluidstack,company_pr,2026-11-09
fluidstack-hut8-2025-12,2025-12-17,Fluidstack,Neocloud,Hut 8,Capacity landlord,Colocation lease,7000000000,confirmed,total contract value over 15-year base term,245,,,15,confirmed,"Total over the 15-year base term; Google backstops the lease and Fluidstack holds a right of first offer on up to 1,000 MW more.",https://www.sec.gov/Archives/edgar/data/1964789/000110465925122052/hut-20251217xex99d1.htm,sec,2026-11-09
hut8-google-2025-12,2025-12-17,Hut 8,Capacity landlord,Google Cloud,Hyperscaler,Backstop,,,backstop covers Fluidstack obligations for the 15-year base term ($7.0B lease); amount not separately disclosed,245,,,15,confirmed,Google backstops Fluidstack's obligations for the 15-year base term; the amount was not disclosed separately.,https://www.sec.gov/Archives/edgar/data/1964789/000110465925122052/hut-20251217xex99d1.htm,sec,2026-11-09
anthropic-broadcom-2025-12,2025-12-11,Anthropic,Frontier lab,Broadcom,Chip vendor,Chip supply,21000000000,confirmed,"$10B order (disclosed Sep 2025, customer unnamed) + $11B additional order in Broadcom's FQ4 2025",,,Google TPU Ironwood racks,,confirmed,,https://www.trendforce.com/news/2025/12/12/news-anthropic-emerges-as-broadcoms-mega-client-margin-challenges-ahead/,media,2026-11-09
iren-converts-2025-12,2025-12-08,IREN,Neocloud,Convertible note investors (144A),Lender,Debt financing,2300000000,confirmed,$1.15B 0.25% converts due 2032 + $1.15B 1.00% converts due 2033; partly used to repurchase 2029/2030 converts,,,,,confirmed,,https://www.sec.gov/Archives/edgar/data/1878848/000114036125044888/ef20060782_ex99-1.htm,sec,2026-11-09
humain-amd-cisco-2025-11,2025-11-19,HUMAIN,Sovereign,"AMD, Cisco",Chip vendor,Joint venture,,,no value disclosed; AMD and Cisco minority shareholders,1000,,AMD Instinct MI450,,confirmed,,https://www.thestar.com.my/tech/tech-news/2025/11/20/exclusive-amd-cisco-and-saudi039s-humain-launch-ai-joint-venture-land-first-major-customer,media,2026-11-09
humain-aws-2025-11,2025-11-19,HUMAIN,Sovereign,Amazon Web Services,Hyperscaler,Joint venture,5000000000,confirmed,'more than $5 billion' AWS investment commitment from the May 2025 partnership; Nov 2025 expansion value not disclosed,,150000,"NVIDIA GB300, AWS Trainium",,confirmed,More than $5 billion of AWS investment committed in May 2025; the value of the November 2025 expansion was not disclosed.,https://press.aboutamazon.com/2025/11/aws-and-humain-expand-partnership-with-nvidia-ai-infrastructure-and-aws-ai-chip-deal-to-drive-global-ai-innovation,company_pr,2026-11-09
xai-humain-2025-11,2025-11-19,SpaceXAI,Frontier lab,HUMAIN,Sovereign cloud,Capacity contract,,,no value disclosed,500,,NVIDIA,,reported,Announced on stage at the US-Saudi Investment Forum; no definitive agreement or terms were published.,https://www.nbcnews.com/tech/tech-news/elon-musk-announces-massive-xai-data-center-saudi-arabia-x-rcna244804,media,2026-11-09
anthropic-microsoft-2025-11,2025-11-18,Anthropic,Frontier lab,Microsoft,Hyperscaler,Capacity contract,30000000000,confirmed,"announced commitment; amended Feb-Nov 2026 to at least $47.2B and up to $49.2B Nov 2026-Jun 2033 (S-1/A No.2, was at least $44.9B in S-1/A No.1)",1000,,NVIDIA,,confirmed,"Announced as a $30 billion commitment; after amendments Anthropic reports at least $47.2 billion and up to $49.2 billion for November 2026 to June 2033 (registration statement amendment, 10 November 2026).",https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm,company_pr,2026-11-15
anthropic-microsoft-2025-11-2,2025-11-18,Anthropic,Frontier lab,Microsoft,Hyperscaler,Equity + compute,5000000000,confirmed,up to; investment commitment,,,,,confirmed,Microsoft committed to invest up to $5 billion; Nvidia committed up to $10 billion at the same time.,https://blogs.microsoft.com/blog/2025/11/18/microsoft-nvidia-and-anthropic-announce-strategic-partnerships/,company_pr,2026-11-09
anthropic-nvidia-2025-11,2025-11-18,Anthropic,Frontier lab,NVIDIA,Chip vendor,Equity + compute,10000000000,confirmed,up to; investment commitment,1000,,NVIDIA,,confirmed,Up to $10 billion investment commitment announced together with the Microsoft agreement.,https://blogs.microsoft.com/blog/2025/11/18/microsoft-nvidia-and-anthropic-announce-strategic-partnerships/,company_pr,2026-11-09
applied-digital-notes-2025-11,2025-11-13,Applied Digital (APLD ComputeCo LLC),Capacity landlord,High-yield bond investors (144A),Lender,Debt financing,2350000000,confirmed,"9.250% senior secured notes due 2030, issued at 97%",,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1144879/000149315225022506/form8-k.htm,sec,2026-11-09
anthropic-fluidstack-2025-11,2025-11-12,Anthropic,Frontier lab,Fluidstack,Neocloud,Colocation lease,50000000000,confirmed,Anthropic's announced investment in US computing infrastructure (data centers built with Fluidstack in TX and NY),,,,,confirmed,,https://www.anthropic.com/news/anthropic-invests-50-billion-in-american-ai-infrastructure,company_pr,2026-11-09
meta-nebius-2025-11,2025-11-11,Meta,Frontier lab,Nebius,Neocloud,Capacity contract,3000000000,confirmed,approx. value over 5 years,,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1513845/000110465925109806/tm2530882d1_ex99-1.htm,sec,2026-11-09
cipher-notes-2025-11,2025-11-05,Cipher Mining (Cipher Compute LLC),Capacity landlord,High-yield bond investors (144A),Lender,Debt financing,1400000000,confirmed,7.125% senior secured notes due 2030 at par; $333M add-on (Nov 24 2025) took the series to $1.733B,168,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1819989/000095010325014401/dp237015_ex9901.htm,sec,2026-11-09
aws-cipher-2025-11,2025-11-03,Amazon Web Services,Hyperscaler,Cipher Digital,Capacity landlord,Colocation lease,5500000000,confirmed,approx. contract value over 15 years,300,,,15,confirmed,,https://www.sec.gov/Archives/edgar/data/1819989/000181998925000110/nov3_earningspressreleasex.htm,sec,2026-11-09
microsoft-iren-2025-11,2025-11-03,Microsoft,Hyperscaler,IREN,Neocloud,Capacity contract,9700000000,confirmed,total contract value over 5 years incl. 20% prepayment,200,,NVIDIA GB300,5,confirmed,"Total value over five years, including a 20% prepayment.",https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/ef20058139_ex99-1.htm,sec,2026-11-09
microsoft-lambda-2025-11,2025-11-03,Microsoft,Hyperscaler,Lambda,Neocloud,Capacity contract,,,'multibillion-dollar'; exact value not disclosed,,,NVIDIA GB300 NVL72,,confirmed,Described as multibillion-dollar; the exact value was not disclosed.,https://lambda.com/blog/lambda-announces-multibillion-dollar-agreement-with-microsoft-to-deploy-ai-infrastructure-powered-by-tens-of-thousands-of-nvidia-gpus,company_pr,2026-11-09
openai-aws-2025-11,2025-11-03,OpenAI,Frontier lab,Amazon Web Services,Hyperscaler,Capacity contract,38000000000,confirmed,"multi-year, growing over seven years",,,"NVIDIA GB200, GB300 (EC2 UltraServers)",7,confirmed,,https://www.aboutamazon.com/news/aws/aws-open-ai-workloads-compute-infrastructure,company_pr,2026-11-09
poolside-nvidia-2025-10,2025-10-30,Poolside,Neolab,NVIDIA,Chip vendor,Equity + compute,1000000000,reported,"up to; starts at $500M, rising to $1B if Poolside meets fundraising targets; part of a $2B round at $12B valuation; capital partly earmarked for Nvidia GB300 purchases",,,NVIDIA GB300,,reported,Reported by Bloomberg: Nvidia's investment would start at $500 million and rise to $1 billion if Poolside meets fundraising targets.,https://www.bloomberg.com/news/articles/2025-10-30/nvidia-to-invest-up-to-1-billion-in-ai-startup-poolside,media,2026-11-09
anthropic-aws-2025-10,2025-10-29,Anthropic,Frontier lab,Amazon Web Services,Hyperscaler,Capacity contract,,,no value disclosed ('billions of dollars' of AWS investment),,500000,AWS Trainium2,,confirmed,,https://www.aboutamazon.com/news/aws/aws-project-rainier-ai-trainium-chips-compute-cluster,company_pr,2026-11-09
fluidstack-terawulf-2025-10,2025-10-28,Fluidstack,Neocloud,TeraWulf (Abernathy JV),Capacity landlord,Joint venture,9500000000,confirmed,contracted revenue to the JV over 25-year hosting commitment (may be shortened to 20 or 15 years),168,,,25,confirmed,,https://www.sec.gov/Archives/edgar/data/1083301/000110465925102858/tm2529509d1_ex99-1.htm,sec,2026-11-09
openai-microsoft-2025-10,2025-10-28,OpenAI,Frontier lab,Microsoft,Hyperscaler,Capacity contract,250000000000,confirmed,incremental Azure services commitment (no term disclosed),,,,,confirmed,,https://blogs.microsoft.com/blog/2025/10/28/the-next-chapter-of-the-microsoft-openai-partnership/,company_pr,2026-11-09
terawulf-google-2025-10,2025-10-28,TeraWulf (Abernathy JV),Capacity landlord,Google Cloud,Hyperscaler,Backstop,1300000000,confirmed,backstop of Fluidstack long-term lease obligations supporting project debt,168,,,,confirmed,Google backstops $1.3 billion of Fluidstack's long-term lease obligations supporting project debt at the Abernathy joint venture.,https://www.sec.gov/Archives/edgar/data/1083301/000110465925102858/tm2529509d1_ex99-1.htm,sec,2026-11-09
anthropic-google-2025-10,2025-10-23,Anthropic,Frontier lab,Google Cloud,Hyperscaler,Capacity contract,,,'tens of billions of dollars' (no exact figure),1000,,Google TPU (up to 1M TPUs),,confirmed,,https://www.anthropic.com/news/expanding-our-use-of-google-cloud-tpus-and-services,company_pr,2026-11-09
undisclosed-hyperscaler-applied-digital-2025-10,2025-10-22,Undisclosed U.S. investment-grade hyperscaler,Hyperscaler,Applied Digital,Capacity landlord,Colocation lease,5000000000,confirmed,approx. prospective lease revenue over ~15-year term,200,,,15,confirmed,,https://www.sec.gov/Archives/edgar/data/1144879/000114487926000002/apldq226earningsrelease.htm,sec,2026-11-09
meta-blue-owl-2025-10,2025-10-21,Meta,Frontier lab,Blue Owl Capital (funds),Lender,Joint venture,27000000000,confirmed,approx. total development costs of Hyperion campus; Blue Owl funds 80% / Meta 20%; Blue Owl ~$7B cash; Meta ~$3B one-time distribution,,,,4,confirmed,"About $27 billion of total development costs for the Hyperion campus, funded 80% by Blue Owl and 20% by Meta.",https://investor.atmeta.com/investor-news/press-release-details/2025/Meta-Announces-Joint-Venture-with-Funds-Managed-by-Blue-Owl-Capital-to-Develop-Hyperion-Data-Center/default.aspx,company_pr,2026-11-09
vantage-jpmorgan-2025-10,2025-10-20,"Vantage Data Centers (Frontier, Shackelford County TX; Port Washington WI)",Capacity landlord,"JPMorgan, MUFG (lead banks)",Lender,Debt financing,38000000000,reported,two facilities reported at $23.25B (Texas) and $14.75B (Wisconsin); ~SOFR+2.5% discussed,,,,,reported,Reported financing of two facilities ($23.25 billion in Texas and $14.75 billion in Wisconsin); closing was not confirmed.,https://www.itiger.com/news/2577515571,aggregator,2026-11-09
terawulf-morgan-stanley-2025-10,2025-10-16,TeraWulf (WULF Compute LLC),Capacity landlord,Morgan Stanley (sole bookrunner); 144A investors,Lender,Debt financing,3200000000,confirmed,"7.750% senior secured notes due Oct 15 2030, at par",,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1083301/000110465925100142/tm2528904d1_ex99-1.htm,sec,2026-11-09
microsoft-nscale-2025-10,2025-10-15,Microsoft,Hyperscaler,Nscale,Neocloud,Capacity contract,43800000000,confirmed,"aggregate of statements of work signed Sep 2025-Apr 2026, payments up to ~$43.8B through Dec 2033, excl. optional extensions (Nscale S-1); Oct 2025 PR gave no value",,200000,"NVIDIA GB300; later Vera Rubin NVL72 (66,000+ at Sines)",,confirmed,"Up to about $43.8 billion through December 2033 under statements of work signed between September 2025 and April 2026. Nscale stated in its amended registration statement (12 November 2026) that one statement of work, valued at $3.22 billion (Loughton, UK), was subsequently terminated with no impact on the other statements of work. In November 2026 the Financial Times reported that Microsoft had declined an option to more than double the capacity it rents at Nscale's 240 MW Barstow, Texas campus; the existing Texas contract stays in place (reported, not confirmed).",https://www.sec.gov/Archives/edgar/data/2110365/000119312526395475/ck0002110365-20260918.htm,sec,2026-11-10
poolside-coreweave-2025-10,2025-10-15,Poolside,Neolab,CoreWeave,Neocloud,Capacity contract,,,no value disclosed,250,40000,NVIDIA GB300 NVL72,,confirmed,,https://investors.coreweave.com/news/news-details/2025/CoreWeave-Announces-Partnership-with-Foundation-Model-Company-Poolside-to-Deliver-AI-Cloud-Services/default.aspx,company_pr,2026-11-09
oracle-amd-2025-10,2025-10-14,Oracle,Hyperscaler,AMD,Chip vendor,GPU purchase,,,no value disclosed,,50000,AMD Instinct MI450 (Helios racks),,confirmed,,https://newsroom.amd.com/news/oracle-and-amd-expand-partnership-to-help-customers-ach/,company_pr,2026-11-09
openai-broadcom-2025-10,2025-10-13,OpenAI,Frontier lab,Broadcom,Chip vendor,Chip supply,,,financial terms not disclosed,10000,,OpenAI-designed custom accelerator (first chip 'Jalapeno' unveiled Jun 24 2026) + Broadcom Ethernet racks,,confirmed,Financial terms were not disclosed.,https://www.cnbc.com/2025/10/13/openai-partners-with-broadcom-custom-ai-chips-alongside-nvidia-amd.html,media,2026-11-09
xai-valor-2025-10,2025-10-12,xAI (CTC subsidiary),Frontier lab,Valor Equity Partners,Lender,Debt financing,4507000000,confirmed,"debt recorded at Dec 31 2025 ($455M current + $4,052M non-current) for GPU equipment lease (failed sale-leaseback); media-reported SPV size ~$20B (~$7.5B equity incl. up to $2B Nvidia, up to $12.5B debt)",,,NVIDIA (Colossus 2),5,confirmed,The value is the debt recorded at 31 December 2025 for a GPU equipment lease accounted for as financing; the full vehicle was reported at about $20 billion.,https://www.sec.gov/Archives/edgar/data/1181412/000162828026040364/spaceexplorationtechnologib.htm,sec,2026-11-09
openai-amd-2025-10,2025-10-06,OpenAI,Frontier lab,AMD,Chip vendor,GPU purchase,,,no contract value disclosed; AMD issued OpenAI a warrant for up to 160M AMD shares vesting with deployment milestones,6000,,AMD Instinct MI450 (first 1 GW from 2H 2026),,confirmed,No contract value was disclosed; AMD issued OpenAI a warrant for up to 160 million AMD shares that vests as deployment milestones are met.,https://www.sec.gov/Archives/edgar/data/2488/000119312525230895/d28189dex991.htm,sec,2026-11-09
openai-samsung-sk-hynix-2025-10,2025-10-01,OpenAI,Frontier lab,Samsung Electronics; SK hynix,Chip vendor,Chip supply,,,no value; memory supply volume target,,,DRAM / HBM,,reported,Letter of intent for memory supply and data centers in Korea; no value or timeline was set.,https://www.techcrunch.com/2025/10/01/openai-ropes-in-samsung-sk-hynix-to-source-memory-chips-for-stargate,media,2026-11-09
cipher-google-2025-09,2025-09-25,Cipher Digital,Capacity landlord,Google Cloud,Hyperscaler,Backstop,1400000000,confirmed,backstop of Fluidstack lease obligations; Google also receives warrants for ~24M Cipher shares (~5.4% pro forma),168,,,,confirmed,Google backstops $1.4 billion of Fluidstack's lease obligations at Barber Lake and received warrants for about 5.4% of Cipher.,https://www.sec.gov/Archives/edgar/data/1819989/000095010325012168/dp234624_ex9901.htm,sec,2026-11-09
fluidstack-cipher-2025-09,2025-09-25,Fluidstack,Neocloud,Cipher Digital,Capacity landlord,Colocation lease,3000000000,confirmed,contracted revenue over initial 10-year term; extensions could bring ~$7B,168,,,10,confirmed,"Contracted revenue over the initial 10-year term; in September 2026 the lease was extended to 20 years, taking Barber Lake contracted revenue above $9 billion.",https://www.sec.gov/Archives/edgar/data/1819989/000095010325012168/dp234624_ex9901.htm,sec,2026-11-09
meta-coreweave-2025-09,2025-09-25,Meta,Frontier lab,CoreWeave,Neocloud,Capacity contract,14200000000,confirmed,up to ~$14.2B initial commitment through Dec 14 2031; option to materially expand through 2032,,,,6,confirmed,"Up to about $14.2 billion of initial commitments through December 2031, with an option to expand; Meta added a $21 billion commitment in March 2026.",https://www.sec.gov/Archives/edgar/data/1769628/000176962825000050/crwv-20250925.htm,sec,2026-11-09
openai-coreweave-2025-09,2025-09-25,OpenAI,Frontier lab,CoreWeave,Neocloud,Capacity contract,6500000000,confirmed,"up to, through May 31 2031; brings total OpenAI contract value to ~ $22.4B",,,,,confirmed,"Up to $6.5 billion through May 2031, bringing OpenAI's total contract value with CoreWeave to about $22.4 billion.",https://www.sec.gov/Archives/edgar/data/1769628/000119312525216497/d17274d8k.htm,sec,2026-11-09
openai-nvidia-2025-09,2025-09-22,OpenAI,Frontier lab,NVIDIA,Chip vendor,Equity + compute,100000000000,reported,up to; progressive Nvidia investment as each GW of Nvidia systems is deployed,10000,,NVIDIA Vera Rubin,,reported,Letter of intent for up to $100 billion of Nvidia investment as each gigawatt is deployed; it was not finalised and was replaced in February 2026 by a $30 billion equity investment.,https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems,company_pr,2026-11-09
meta-oracle-2025-09,2025-09-19,Meta,Frontier lab,Oracle,Hyperscaler,Capacity contract,20000000000,reported,'about $20 billion' in talks; could increase,,,,,reported,Reported by Bloomberg as talks of about $20 billion; not confirmed as signed.,https://deccanchronicle.com/business/oracle-in-talks-with-meta-on-20-billion-ai-cloud-deal-1904886,media,2026-11-09
microsoft-nscale-2025-09,2025-09-16,Microsoft,Hyperscaler,Nscale,Neocloud,Capacity contract,,,no value disclosed,50,23040,NVIDIA GB300,,confirmed,"Announced September 2025 for the Loughton, UK campus (50 MW, 23,040 GB300 GPUs). Nscale stated in its amended registration statement (12 November 2026) that the statement of work for the site, valued at $3.22 billion, was terminated after the local power provider withdrew the connection date and power allocation; Nscale said it is exploring alternative power sources for the site.",https://www.nscale.com/press-releases/nscale-uk-ai-infrastructure-announcement,company_pr,2026-11-10
openai-nscale-2025-09,2025-09-16,OpenAI,Frontier lab,Nscale (Stargate UK),Neocloud,Capacity contract,,,no value disclosed,,8000,NVIDIA,,reported,"OpenAI said it will explore offtake of up to 8,000 GPUs in the UK, potentially 31,000 over time; not a firm contract.",https://www.nscale.com/press-releases/nscale-uk-ai-infrastructure-announcement,company_pr,2026-11-09
coreweave-nvidia-2025-09,2025-09-09,CoreWeave,Neocloud,NVIDIA,Chip vendor,Backstop,6300000000,confirmed,initial value of order form; Nvidia must buy residual unsold capacity through Apr 13 2032,,,,6.6,confirmed,Initial value of the order: Nvidia must buy any capacity CoreWeave leaves unsold through 13 April 2032.,https://www.sec.gov/Archives/edgar/data/1769628/000176962825000047/crwv-20250909.htm,sec,2026-11-09
microsoft-nebius-2025-09,2025-09-08,Microsoft,Hyperscaler,Nebius,Neocloud,Capacity contract,17400000000,confirmed,total contract value through 2031; up to ~$19.4B if Microsoft acquires additional services,,,,5,confirmed,Total contract value through 2031; up to about $19.4 billion if Microsoft buys additional services.,https://www.sec.gov/Archives/edgar/data/1513845/000110465925088312/tm2525580d1_6k.htm,sec,2026-11-09
nvidia-lambda-2025-09,2025-09-05,NVIDIA,Chip vendor,Lambda,Neocloud,Capacity contract,1500000000,reported,"$1.3B 4-year lease of 10,000 GPU servers + $200M for 8,000 more (reported)",,18000,,4,reported,Reported by The Information as a four-year leaseback of GPU servers; not confirmed by the companies.,https://www.tomshardware.com/tech-industry/artificial-intelligence/nvidia-signs-usd1-5-billion-deal-with-cloud-startup-lambda-to-rent-back-its-own-ai-chips-18-000-gpus-will-be-leased-over-4-years-as-lambda-gears-up-for-its-ipo,media,2026-11-09
meta-google-2025-08,2025-08-21,Meta,Frontier lab,Google Cloud,Hyperscaler,Capacity contract,10000000000,reported,'more than $10 billion' over six years,,,,6,reported,Reported by Reuters citing one source as more than $10 billion over six years; not confirmed by the companies.,https://www.ksl.com/article/51364070/meta-signs-over-10-billion-cloud-deal-with-google-source-says,media,2026-11-09
fluidstack-terawulf-2025-08-2,2025-08-18,Fluidstack,Neocloud,TeraWulf,Capacity landlord,Colocation lease,6700000000,confirmed,total contracted revenue incl. CB-5 expansion; potential ~$16B with lease extensions,160,,,10,confirmed,Total contracted revenue including the CB-5 expansion; lease extensions could raise it to about $16 billion.,https://www.sec.gov/Archives/edgar/data/1083301/000110465925079463/tm2523651d3_ex99-1.htm,sec,2026-11-09
coreweave-galaxy-2025-08,2025-08-15,CoreWeave,Neocloud,Galaxy Digital,Capacity landlord,Colocation lease,,,Galaxy expects average annual revenue > $1B over the 15-year terms; Phase II minimum contracted lease payments $10.4B (Jul 2026 investor deck),800,,,15,confirmed,Galaxy expects average annual revenue above $1 billion over the 15-year leases; Phase II carries $10.4 billion of minimum lease payments.,https://www.galaxy.com/newsroom/galaxy-closes-helios-project-financing,company_pr,2026-11-09
galaxy-loan-2025-08,2025-08-15,Galaxy Digital (Helios),Capacity landlord,Undisclosed lender (reported Deutsche Bank),Lender,Debt financing,1400000000,confirmed,"project financing facility, 80% loan-to-cost, 36-month term; Galaxy funded $350M equity",,,,3,confirmed,,https://www.galaxy.com/newsroom/galaxy-closes-helios-project-financing,company_pr,2026-11-09
fluidstack-terawulf-2025-08,2025-08-14,Fluidstack,Neocloud,TeraWulf,Capacity landlord,Colocation lease,3700000000,confirmed,contracted revenue over initial 10-year terms; two 5-year options could take it to ~$8.7B,200,,,10,confirmed,Contracted revenue over the initial 10-year terms; two 5-year options could raise it to about $8.7 billion. Google backstops part of the lease obligations.,https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/tm2523008d2_ex99-1.htm,sec,2026-11-09
terawulf-google-2025-08,2025-08-14,TeraWulf,Capacity landlord,Google Cloud,Hyperscaler,Backstop,1800000000,confirmed,backstop of Fluidstack lease obligations; plus warrants for ~41M TeraWulf shares (~8% pro forma). Raised to ~$3.2B total and ~14% stake on Aug 18 2025,200,,,,confirmed,Google backstops up to $1.8 billion of Fluidstack's lease obligations and received warrants for about 8% of TeraWulf; on 18 August 2025 both were raised to about $3.2 billion and about 14%.,https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/tm2523008d2_ex99-1.htm,sec,2026-11-09
coreweave-morgan-stanley-2025-07,2025-07-31,CoreWeave,Neocloud,"Morgan Stanley, MUFG (joint lead arrangers); Goldman Sachs et al.",Lender,Debt financing,2600000000,confirmed,"delayed draw term loan (DDTL 3.0), SOFR+4%",,,,,confirmed,,https://www.sec.gov/Archives/edgar/data/1769628/000176962825000033/ddtl30pressrelease-ex991x6.htm,sec,2026-11-09
openai-nscale-2025-07,2025-07-31,OpenAI,Frontier lab,Nscale / Aker JV (Stargate Norway),Neocloud,Capacity contract,,,no offtake value; Nscale and Aker committed ~USD 1B to the initial 20 MW phase,230,100000,NVIDIA,,reported,OpenAI is the initial offtaker with an option to scale rather than a firm buyer; Nscale and Aker committed about $1 billion to the first 20 MW phase.,https://nscale.com/press-releases/stargate-norway-nscale-aker-openai,company_pr,2026-11-09
openai-oracle-2025-07,2025-07-22,OpenAI,Frontier lab,Oracle,Hyperscaler,Capacity contract,300000000000,reported,"reported value over ~5 years (WSJ, Sep 10 2025; companies declined to comment); 4.5 GW Stargate capacity agreement announced Jul 22 2025",4500,,,5,confirmed,The 4.5 GW agreement was announced by OpenAI; the $300 billion five-year value was reported by The Wall Street Journal and not confirmed by the companies.,https://www.cnbc.com/2025/09/11/oracle-shares-slide-7percent-openai.html,media,2026-11-09
xai-debt-2025-06,2025-06-30,SpaceXAI,Frontier lab,Bond and loan investors (Morgan Stanley-led per media),Lender,Debt financing,5000000000,confirmed,$3.0B 12.5% senior secured notes due 2030 + $1.0B fixed-rate (12.5%) and $1.0B floating-rate (SOFR+7.25%) term loans due Jun 30 2030,,,,5,confirmed,,https://www.sec.gov/Archives/edgar/data/1181412/000162828026040364/spaceexplorationtechnologib.htm,sec,2026-11-09
mistral-nvidia-2025-06,2025-06-11,Mistral AI,Neolab,NVIDIA,Chip vendor,GPU purchase,,,no value disclosed,,18000,NVIDIA Grace Blackwell,,confirmed,,https://mistral.ai/news/mistral-compute,company_pr,2026-11-09
openai-google-cloud-2025-05,2025-06-10,OpenAI,Frontier lab,Google Cloud,Hyperscaler,Capacity contract,,,terms not disclosed,,,,,reported,Reported by Reuters citing sources; terms were not disclosed.,https://www.techzine.eu/news/infrastructure/132099/openai-and-google-sign-deal-for-cloud-computing-capacity,media,2026-11-09
coreweave-applied-digital-2025-05,2025-05-28,CoreWeave,Neocloud,Applied Digital,Capacity landlord,Colocation lease,7000000000,confirmed,"~$3B (Building 2, 100 MW) + ~$4B (Building 3, 150 MW); CoreWeave later took the full 400 MW of Polaris Forge 1, ~$11B total prospective lease revenue (Jan 2026 release)",250,,,15,confirmed,"About $7 billion over 15 years for two buildings (250 MW); CoreWeave later took the full 400 MW at Polaris Forge 1, about $11 billion in total.",https://www.sec.gov/Archives/edgar/data/1144879/000164117225013199/form8-k.htm,sec,2026-11-09
openai-g42-2025-05,2025-05-22,OpenAI,Frontier lab,G42 (Stargate UAE),Sovereign cloud,Capacity contract,,,no cost disclosed,1000,,NVIDIA GB300,,confirmed,,https://www.intelligentcio.com/me/2025/05/23/g42-openai-oracle-nvidia-softbank-cisco-launch-stargate-uae-from-uae-us-ai-campus-in-abu-dhabi/,media,2026-11-09
crusoe-blue-owl-2025-05,2025-05-21,Crusoe,Neocloud,"Blue Owl Capital, Primary Digital Infrastructure",Lender,Joint venture,15000000000,confirmed,total JV size (phase 1 + phase 2); media: JPMorgan-led $7.1B construction loan for phase 2,1200,,,,confirmed,"$15 billion is the total size of the joint venture for the Abilene, Texas campus across two phases, not a single loan.",https://www.crusoe.ai/resources/newsroom/crusoe-blue-owl-capital-and-primary-digital-infrastructure-enter-joint-venture,company_pr,2026-11-09
anthropic-banks-2025-05,2025-05-16,Anthropic,Frontier lab,"Morgan Stanley, Barclays, Citibank, Goldman Sachs, JPMorgan, RBC, MUFG",Lender,Debt financing,2500000000,confirmed,five-year revolving credit line,,,,5,confirmed,,https://www.nbcsandiego.com/news/business/money-report/anthropic-closes-2-5-billion-credit-facility-as-wall-street-continues-plunging-money-into-ai-boom/3827408/?amp=1,media,2026-11-09
openai-coreweave-2025-05,2025-05-15,OpenAI,Frontier lab,CoreWeave,Neocloud,Capacity contract,4000000000,confirmed,up to; expansion of March 2025 contract,,,,,confirmed,"Up to $4 billion, expanding the March 2025 contract.",https://investors.coreweave.com/news/news-details/2025/CoreWeave-Expands-Agreement-with-OpenAI-by-up-to-6-5B/default.aspx,company_pr,2026-11-09
humain-nvidia-2025-05,2025-05-13,HUMAIN,Sovereign,NVIDIA,Chip vendor,GPU purchase,,,no value disclosed; 'several hundred thousand' Nvidia GPUs over five years,500,18000,NVIDIA GB300 Grace Blackwell,5,confirmed,,https://nvidianews.nvidia.com/news/saudi-arabia-and-nvidia-to-build-ai-factories-to-power-next-wave-of-intelligence-for-the-age-of-reasoning,company_pr,2026-11-09
ssi-google-2025-04,2025-04-09,Safe Superintelligence,Neolab,Google Cloud,Hyperscaler,Capacity contract,,,no value disclosed,,,Google TPU,,confirmed,,https://techcrunch.com/2025/04/09/ilya-sutskever-taps-google-cloud-to-power-his-ai-startups-research,media,2026-11-09
openai-coreweave-2025-03,2025-03-10,OpenAI,Frontier lab,CoreWeave,Neocloud,Capacity contract,11900000000,confirmed,up to; plus OpenAI received $350M of CoreWeave stock (issued at IPO),,,,5,confirmed,Up to $11.9 billion; OpenAI also received $350 million of CoreWeave stock at its IPO.,https://wf.coreweave.com/blog/coreweave-announces-agreement-with-openai-to-deliver-ai-infrastructure,company_pr,2026-11-09
core42-terawulf-2024-12,2024-12-23,Core42 (G42),Sovereign,TeraWulf,Capacity landlord,Colocation lease,,,value not disclosed,60,,,10,confirmed,,https://investors.terawulf.com/news-events/press-releases/detail/99/,company_pr,2026-11-09
cohere-coreweave-2024-12,2024-12-06,Cohere,Neolab,CoreWeave,Neocloud,Capacity contract,512000000,confirmed,"C$725M compute purchase project (converted at ~0.706 USD/CAD, Dec 2024, approx.); Government of Canada contributing up to C$240M (first Sovereign AI Compute Strategy investment)",,,,,confirmed,"The value is Cohere's C$725 million compute project in Canada, converted at about 0.706 USD/CAD; the Government of Canada committed up to C$240 million of it.",https://betakit.com/cohere-secures-federal-backing-to-build-multibillion-dollar-canadian-ai-data-centre/,media,2026-11-09
anthropic-amazon-2024-11,2024-11-22,Anthropic,Frontier lab,Amazon Web Services,Hyperscaler,Equity + compute,4000000000,confirmed,"additional investment (convertible notes, in tranches); brings Amazon total to $8B",,,AWS Trainium (Trainium2),,confirmed,"An additional $4 billion investment in convertible notes paid in tranches, bringing Amazon's total investment in Anthropic to $8 billion.",https://techcrunch.com/2024/11/22/anthropic-raises-an-additional-4b-from-amazon-makes-aws-its-primary-cloud-partner/,media,2026-11-09
openai-banks-2024-10,2024-10-03,OpenAI,Frontier lab,"JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, HSBC",Lender,Debt financing,4000000000,confirmed,revolving credit line; undrawn at closing,,,,,confirmed,,https://www.engadget.com/ai/openai-now-has-a-4-billion-credit-line-on-top-of-66-billion-in-funding-163230350.html,media,2026-11-09
magic-google-2024-08,2024-08-29,Magic,Neolab,Google Cloud,Hyperscaler,Capacity contract,,,no value disclosed; announced with Magic's $320M round (incl. Alphabet's CapitalG),,,"NVIDIA H100 (Magic-G4, A3 Mega VMs); NVIDIA Grace Blackwell (Magic-G5)",,confirmed,Announced together with Magic's $320 million funding round; the value of the cloud agreement was not disclosed.,https://cloud.google.com/blog/products/ai-machine-learning/magic-ai-100m-tokens-cloud-supercomputer,company_pr,2026-11-09
coreweave-core-scientific-2024-06,2024-06-03,CoreWeave,Neocloud,Core Scientific,Capacity landlord,Colocation lease,,,"initial ~200 MW: >$3.5B cumulative revenue over 12 years (Jun 2024 PR, snippet); expanded to ~590 MW critical IT (~800 MW gross), ~$850M avg annual run-rate revenue (Oct 2025 deck)",590,,,12,confirmed,"A series of 12-year hosting contracts, later expanded to about 590 MW of critical IT; no single total value was disclosed.",https://www.sec.gov/Archives/edgar/data/1839341/000114036125039864/ef20057996_ex99-1.htm,sec,2026-11-09
coreweave-blackstone-2024-05,2024-05-17,CoreWeave,Neocloud,"Blackstone (lead); Magnetar, Coatue, Carlyle, CDPQ, DigitalBridge Credit, BlackRock, Eldridge, Great Elm",Lender,Debt financing,7500000000,confirmed,debt financing facility (DDTL 2.0),,,,,confirmed,,https://investors.coreweave.com/news/news-details/2024/CoreWeave-Secures-7-5-Billion-Debt-Financing-Facility-led-by-Blackstone-and-Magnetar/default.aspx,company_pr,2026-11-09
lambda-macquarie-2024-04,2024-04-04,Lambda,Neocloud,Macquarie (lead); Industrial Development Funding,Lender,Debt financing,500000000,confirmed,GPU-backed special purpose financing vehicle (up to),,,NVIDIA H100,,confirmed,Up to $500 million through a GPU-backed special purpose vehicle secured by the GPUs and their cash flows.,https://www.thestar.com.my/tech/tech-news/2024/04/05/lambda-secures-500-million-loan-with-nvidia-chips-as-collateral,media,2026-11-09