Offtake Tracker

Every public GPU capacity and AI data center lease contract, and who pays.

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What it shows

67 public contracts. Four buyers hold 86% of $361B in GPU capacity contracts: Anthropic $135B, Microsoft $80.9B, Meta $65.1B, Google $30.4B.

43% of that value rests on two private, unrated AI labs, Anthropic and OpenAI. Lenders who once underwrote Microsoft now underwrite labs funded by equity rounds.

Data center leases price in a tight band: a median $1.85M per MW of critical IT a year.

Get the data pack as a spreadsheet

Every offtake contract and financing, with buyer concentration and implied $ per GPU-hour as live formulas.

Who buys GPU capacity

BuyerContract valueContractsShareCredit
Anthropic$135B437%Private, unrated, funded by equity rounds
Microsoft$80.9B522%Public, investment-grade rated
Meta$65.1B418%Public, investment-grade rated
Google$30.4B18%Public (Alphabet), investment-grade rated
OpenAI$22.4B36%Private, unrated, funded by equity rounds
Other buyers$11.1B83%-
NVIDIA$11B43%Public, investment-grade rated
Jane Street$6B12%-

GPU capacity contracts only, including press-reported deals.

All 67 contracts

Newest first. Values as disclosed; reported means press reports the parties have not confirmed. Updated October 10, 2026.

DateBuyerSellerTypeValueTermImpliedPaid up front or backstopSource
Aug 31, 2026AnthropicLambdaGPU capacity$35Breported6 yrs--DCD
Aug 25, 2026AnthropicNscaleGPU capacity$44.6B6 yrs$16.16M/MW-yr-TechCrunch
Aug 24, 2026Figure AINscaleGPU capacityn/d---SEC
Aug 17, 2026Investment-grade enterprise (unnamed)HIVE (BUZZ HPC)GPU capacity$350M5 yrs$3.96/GPU-hr~10% upfront deposit (~$35M)SEC
Aug 17, 2026OpenAISB Energy (NVIDIA-backed)Data center leasen/d20 yrs-NVIDIA backstop of up to $105B for the initial phase if OpenAI leaves and the site cannot be re-leasedAxios
Aug 4, 2026AnthropicVoltaGPU capacity$10Breported6 yrs--The Decoder
Jul 2026Global AI platform (unnamed)SharonAIGPU capacity$373M5 yrs$4.16/GPU-hr-SEC
Jul 20, 2026High-investment-grade tenant (reported NVIDIA)Hut 8Data center lease$9.8B15 yrs$1.86M/MW-yr-Blockspace
Jul 2026Global AI lab (unnamed)SharonAIGPU capacity$1.3B5 yrs--SEC
Jul 6, 2026AnthropicTeraWulfData center lease$19B20 yrs$2.37M/MW-yrExpected to be supported by an investment-grade creditTeraWulf
Jul 2026Prometheus, Perplexity, Together AI and othersIRENGPU capacity$2.8B---SEC
Jun 30, 2026Reflection, Cohere, a U.S. neolab and a quant trading firmNebiusGPU capacity$4B--Customer prepayments covering ~50-60% of related capexMarketBeat
Jun 2026NVIDIASharonAIGPU capacity$4.9B6 yrs$2.33/GPU-hr-SEC
Jun 8, 2026Tier-one investment-grade hyperscaler (unnamed)Applied DigitalData center lease$5.2B15 yrs$1.65M/MW-yr-SEC
Jun 5, 2026GoogleSpaceX (xAI)GPU capacity$30.4B2.75 yrs$11.46/GPU-hr-DCD
Jun 2026Global technology company (unnamed)SharonAIGPU capacity$950M5 yrs--SEC
May 20, 2026High-investment-grade hyperscaler (unnamed)Applied DigitalData center lease$7.5B15 yrs$1.67M/MW-yr-Applied Digital
May 6, 2026High-investment-grade tenant (reported NVIDIA)Hut 8Data center lease$9.8B15 yrs$1.86M/MW-yr-DCD
May 3, 2026AnthropicSpaceX (xAI)GPU capacity$45B3 yrs$5.27/GPU-hr-SEC
May 2026NVIDIAIRENGPU capacity$3.4B5 yrs--SEC
Apr 24, 2026MicrosoftNscaleGPU capacity$37.6B---Nscale
Apr 23, 2026High-investment-grade hyperscaler (unnamed)Applied DigitalData center lease$7.5B15 yrs$1.67M/MW-yr-GlobeNewswire via Finviz
Apr 15, 2026Jane StreetCoreWeaveGPU capacity$6B---SEC
Apr 6, 2026AnthropicGoogle / BroadcomCloud commitmentn/d---Anthropic
Apr 1, 2026ESDS Software SolutionsSharonAIGPU capacity$1.3B5 yrs$3.48/GPU-hrMonthly advance paymentsSEC
Mar 31, 2026MetaCoreWeaveGPU capacity$21B6.7 yrs--SEC
Mar 24, 2026Investment-grade hyperscaler (reported AWS)Cipher DigitalData center leasen/d15 yrs--The Energy Mag
Mar 16, 2026MetaNebiusGPU capacity$27B5 yrs--SEC
Mar 2026AnthropicCoreWeaveGPU capacityn/d---SEC
Feb 2026OpenAIAmazon Web ServicesCloud commitment$100B8 yrs--DCD
Jan 14, 2026OpenAICerebrasCloud commitment$10Breported---Bloomberg
Dec 17, 2025Fluidstack (for Anthropic)Hut 8Data center lease$7B15 yrs$1.90M/MW-yrGoogle backstops lease payments for the 15-year base termDCD
Dec 2025NscaleWhiteFiberData center lease$865M10 yrs$2.16M/MW-yr-SEC
Nov 18, 2025AnthropicMicrosoftCloud commitment$30B---Anthropic
Nov 12, 2025AnthropicFluidstackBuild program$50B---Anthropic
Nov 11, 2025MetaNebiusGPU capacity$2.9B5 yrs--SEC
Nov 3, 2025Amazon Web ServicesCipher DigitalData center lease$5.5B15 yrs--Forklog
Nov 3, 2025MicrosoftIRENGPU capacity$9.7B5 yrs$9.70M/MW-yr20% of each tranche's contract value paid before delivery, credited against fees after month 24SEC
Nov 3, 2025MicrosoftLambdaGPU capacityn/d---Lambda
Nov 3, 2025OpenAIAmazon Web ServicesCloud commitment$38B7 yrs--DCD
Oct 30, 2025CoreWeaveCore ScientificData center lease$6.7B12 yrs$1.43M/MW-yr-Core Scientific
Oct 28, 2025OpenAIMicrosoftCloud commitment$250B---OpenAI
Oct 27, 2025FluidstackTeraWulf (Abernathy JV)Data center lease$9.5B25 yrs$2.26M/MW-yr$1.3B Google credit supportDCD
Oct 23, 2025AnthropicGoogleCloud commitmentn/d---Anthropic
Oct 22, 2025Investment-grade hyperscaler (unnamed)Applied DigitalData center lease$5B15 yrs$1.67M/MW-yr-GlobeNewswire via Seeking Alpha
Oct 15, 2025PoolsideCoreWeaveGPU capacityn/d---CoreWeave
Sep 25, 2025FluidstackCipher DigitalData center lease$3B10 yrs$1.79M/MW-yrGoogle backstops $1.4B of Fluidstack lease obligations; warrants for ~5.4% of CipherThe Block
Sep 25, 2025MetaCoreWeaveGPU capacity$14.2B6.2 yrs--SEC
Sep 23, 2025OpenAICoreWeaveGPU capacity$6.5B5.7 yrs--SEC
Sep 19, 2025MetaOracleCloud commitment$20Breported---Bloomberg
Sep 17, 2025MicrosoftNscale / Aker JVGPU capacity$6.2B5 yrs$2.72/GPU-hr-DCD
Sep 10, 2025OpenAIOracleCloud commitment$300Breported5 yrs--SiliconANGLE
Sep 9, 2025NVIDIACoreWeaveBackstop$6.3B6.6 yrs--SEC
Sep 8, 2025MicrosoftNebiusGPU capacity$17.4B5 yrs--SEC
Sep 2025NVIDIALambdaGPU capacity$1.5Breported4 yrs$2.38/GPU-hr-Tom's Hardware
Aug 21, 2025MetaGoogleCloud commitment$10Breported6 yrs--Reuters via BNN Bloomberg
Aug 18, 2025FluidstackTeraWulfData center lease$3B10 yrs$1.88M/MW-yrIncremental $1.4B Google backstop (total $3.2B)The Fly
Aug 13, 2025FluidstackTeraWulfData center lease$3.7B10 yrs$1.85M/MW-yrGoogle backstops $1.8B of Fluidstack lease obligations; receives warrants (~8% stake)DCD
Jul 30, 2025CoreWeaveApplied DigitalData center lease$4B15 yrs$1.78M/MW-yr-Baxtel
Jul 2025NVIDIANscaleGPU capacity$1.2B---SEC
Jun 2, 2025CoreWeaveApplied DigitalData center lease$7B15 yrs$1.87M/MW-yr-Bisnow
May 15, 2025OpenAICoreWeaveGPU capacity$4B4 yrs--Bloomberg
Mar 28, 2025CoreWeaveGalaxyData center leasen/d15 yrs--Galaxy
Mar 10, 2025OpenAICoreWeaveGPU capacity$11.9B5 yrs--SEC
Jul 2024SolunaHPEGPU capacity$34M3 yrs-$10,293,350 paid before the contract became effectiveSEC
Jun 3, 2024CoreWeaveCore ScientificData center lease$3.5B12 yrs$1.46M/MW-yr-SEC
Apr 2023MicrosoftCoreWeaveGPU capacity$10B7 yrs--SEC

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