Anthropic flags gas as a major risk

In its IPO filing on Monday, Anthropic warned that competition for natural gas from other data centers could drive prices higher and disrupt its fuel supply.

Data centers are building their own gas plants

As data center demand surges, companies are building private natural gas plants rather than waiting years for grid connections.

Data centers could add massive gas demand

Grid-connected data centers alone could add fifteen billion cubic feet per day of natural gas demand by twenty thirty-five, a fifteen percent increase in overall demand.

Anthropic is building its own data centers

Anthropic has moved to directly lease and develop data centers to reduce reliance on Amazon, Google, Microsoft and SpaceX.

Anthropic's gas projects span multiple states

Anthropic has been tied to developing data centers with major on-site gas projects in Louisiana, Texas and West Virginia.

Texas is the hotspot for gas competition

Texas is the national hotspot for behind-the-meter data center development, putting multiple developers in competition for the same potentially limited gas supply. Anthropic acknowledged this risk in its IPO filing.

“we expect increased competition among users for the same natural gas supply and pipeline capacity in those areas”

Anthropic dismisses renewable alternatives

Anthropic mentioned renewables only once in its IPO filing, to dismiss them. The company stated that solar, wind, battery storage, nuclear and geothermal power may not be available in required quantities or timelines, or may…

“may not be available in the quantities or on the timelines we require, or may be available only at higher cost”