Anthropic's desperate need for compute capacity gives it negotiating leverage to secure long-term fixed-price deals that may be unfavorable to infrastructure providers like Riot.

"Anthropic is likely getting more out of this deal, even though it is the one that is desperate for compute. This is because Riot is giving away 20 years' worth of capacity for a fixed all-inclusive payment, even though no one knows how expensive electricity and data-center upkeep could be in the coming years."