Meta Platforms is in talks to lease computing power to Anthropic in a potential deal worth up to $10 billion over two years, according to a source familiar with the matter.
Shares of the social media giant pared losses slightly after the news and closed down more than 2 percent amid a wider tech selloff on Friday. They were down marginally in extended trading.
Such a deal would help Meta diversify beyond advertising by generating revenue from its infrastructure and competing with neocloud firms such as CoreWeave and Nebius, as growing adoption of advanced AI tools boosts the need for computing capacity.
The Claude Code creator would pay Meta in monthly increments over the two-year period, although the terms remain subject to change, the source said, adding that the companies would be able to exit any agreement early.
IPO-bound Anthropic had proposed the deal in June and Meta is considering it, the source said, adding that the talks have become complicated since Meta does not have a business selling its computing power.
