Anthropic agreed to spend $3.4 billion taking over 1.7 GW of Caterpillar gas-generator orders from equipment supplier OnePWR Solutions.

The reported transaction transferred equipment-purchase commitments rather than ownership of OnePWR Solutions. Financial_Express, citing the Financial Times, says Anthropic acquired commitments for 1.7 gigawatts of heavy-duty generators in late September for $3.4 billion. OnePWR is an equipment supplier headquartered in San Antonio, Texas, and Anthropic did not acquire the company itself.

The package reportedly includes engineering and construction capabilities needed to install the generators. An unnamed source said no OnePWR employees transferred to Anthropic. Another reported detail is that OnePWR had ordered the Caterpillar generators two years earlier but needed financing to complete the transaction.

Anthropic changed its approach from buying electricity to taking over equipment orders. It initially planned to become a OnePWR customer before choosing to assume the Caterpillar orders; one supplied report describes this as the largest known single purchase of generation equipment by an AI laboratory. The 1.7-GW figure refers to generator capacity covered by the orders, not commissioned data-center capacity, and the sources provide no delivery or operational dates.

Separate supplied reports discuss an anticipated initial public offering, not a completed financing. FinancialJuice, citing The Information, said Anthropic would begin its IPO roadshow the following week, while a broader roundup reported potential valuation expectations of $1.2 trillion–$1.3 trillion and investor doubts about that timing. No offering filing or completed IPO is supplied, and neither report establishes that IPO proceeds fund the generator transaction.