Anthropic has signed a USD 3.4 billion agreement to purchase natural gas generators from US power equipment supplier OnePower Solutions, securing a total generation capacity of 1.7 gigawatts (GW). Reported by the Financial Times (FT) on 8th November, the September agreement represents the largest single purchase of power generation equipment by an artificial intelligence (AI) company. The contracted capacity is comparable to the output of one to two nuclear reactors.
The purchase comes as AI companies face difficulties securing electricity supplies for the rapid expansion of data centres. Delays in grid connections and power facility expansions have prompted technology firms to pursue generation assets directly rather than depend solely on electricity supply schedules from power companies.
The AI power generation market is consequently becoming an area of direct investment for technology companies seeking to secure electricity for their data centre operations.
Generator Supply Shortages Drive Direct Procurement
The generators acquired by Anthropic were initially ordered by OnePower from heavy machinery manufacturer Caterpillar two years ago. Anthropic had originally planned to sign a power supply agreement with OnePower. However, after OnePower encountered difficulties securing funding, Anthropic took over the existing equipment order.
The transaction reflects the supply constraints affecting power equipment procurement as AI data centre construction accelerates. New generator orders are now facing delivery delays of several years, making previously placed equipment orders valuable to companies seeking to secure generation capacity.
The AI power generation procurement trend also highlights how technology companies are moving beyond conventional electricity purchasing arrangements to gain more direct control over power supply.
Major Technology Companies Expand Power Procurement
Other major technology companies are also securing generation equipment and energy assets to support their expanding electricity requirements.
Elon Musk’s AI company xAI signed gas turbine purchase agreements worth a combined USD 2.8 billion this year. In July, Musk also acquired APR Energy, a provider of mobile gas and diesel power, for USD 1 billion.
Alphabet, Google’s parent company, agreed last year to acquire energy firm Intersect for USD 4.75 billion. Microsoft has also partnered with US energy company Chevron to develop a 2.67 GW gas-fired power plant in Texas dedicated to data centres. The partnership includes a 20-year power supply arrangement.
These transactions demonstrate the growing involvement of AI and technology companies in securing power generation capacity and energy infrastructure alongside their investments in data centres.