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Anthropic, PBC
Notes to Consolidated Financial Statements
(Continued)

billion  and  will  provide  up  to  $30.0  billion  of  debt  and/or  equity  financing  through  December  31, 
2030, subject to certain conditions.

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In  April  2026,  the  Company  entered  into  a  stock  purchase  and  convertible  note  facility  agreement 
(“Amazon  2026  NPA”)  with  Amazon  under  which  Amazon  purchased 19.3  million  shares  of  the 
Company’s  Series  G-2  non-voting  redeemable  convertible  preferred  stock  for  approximately  $5.0 
billion  and  will  provide  up  to  $20.0  billion  of  debt  and/or  equity  financing  in  the  future,  subject  to 
certain conditions.

In  May  2026,  the  Company  completed  the  sale  of  an  aggregate  of 75.7  million  shares  of  Series  H-1 
redeemable  convertible  preferred  stock  and  an  aggregate  of 27.6  million  shares  of  Series  H-2  non-
voting  redeemable  convertible  preferred  stock  at  a  price  of  $589.0095  per  share,  for  aggregate  gross 
proceeds of $60.8 billion, with additional sales expected in June 2026.

Compute and Infrastructure Transactions

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In March 2026, the Company entered into a lease agreement for a data center to be constructed. The 
lease is expected to commence in 2027 and is for a term of 20 years from the date the data center is 
delivered to the Company.

In March 2026, in connection with an agreement to lease compute and infrastructure equipment, the 
Company  entered  into  a  note  purchase  agreement  under  which  the  Company  may  issue,  subject  to 
certain  conditions,  up  to  $42.0  billion  of  convertible  promissory  notes  in  the  future  solely  to  finance 
rent obligations under the lease.

In March 2026, in connection with order forms executed under the Company’s amended and restated 
colocation  and  services  agreement  with  a  data  center  provider  for  a  facility  in  the  United  States,  the 
Company  entered  into  a  guaranty  of  the  provider’s  obligations  under  a  power  purchase  contract  in 
favor of the power counterparty in a maximum amount of up to $500 million.

In  April  2026,  the  Company deposited  $2.5  billion  into  an  escrow  account  in  connection  with  a 
compute and infrastructure lease agreement.

Subsequent  to  December  31,  2025,  the  Company  entered  into  new,  and  amended  existing,  lease  and 
commercial  agreements  primarily  to  secure  additional  compute  and  infrastructure  capacity,  with 
aggregate future minimum payment obligations of approximately $417 billion. These primarily consist 
of  leases  for  compute  equipment  and  data  centers  and  purchase  commitments  with  certain  cloud 
providers,  commencing  between  2026  and  2027  with  terms  ranging  from  less  than  one  year  to  20 
years. The Company also expanded certain existing commercial agreements under which it expects to 
secure  additional  compute  and  infrastructure  capacity  to  be  delivered  between  2028  and  2031.  As 
certain  commercial  terms  have  not  yet  been  finalized,  the  Company  estimates  aggregate  future 
payments under these agreements to be approximately $125 billion to $150 billion.

Strategic Transactions and Partnerships

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In April 2026, the Company completed the acquisition of Coefficient Bio, Inc., a developer of AI models 
for biological research applications. Aggregate merger consideration consisted of 15.4 million shares of 
the  Company’s  Class  A  common  stock,  a  portion  of  which  is  attributable  to  post-combination 
compensation under share revesting arrangements with continuing employees. The initial accounting 
for the acquisition was not complete as of the date these consolidated statements were available to be 
issued.

In  May  2026,  the  Company  completed  the  acquisition  of  Stainless  Software,  Inc.,  a  provider  of 
developer  tooling  for  the  automated  generation  of  software  development  kits  and Model  Context 
Protocol  servers.  Aggregate  merger  consideration consisted  of  11.6  million  shares  of  the  Company’s 
Class  A  common  stock,  a  portion  of  which  is  attributable  to  post-combination  compensation  under 
share  revesting  arrangements  with  continuing  employees.  The  initial  accounting  for  the  acquisition 
was not complete as of the date these consolidated statements were available to be issued.

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