AI Compute Deals

Microsoft AI compute deals

Microsoft is party to 11 deals in the ledger, buyer in 7 and seller in 4. The 5 with a stated price add up to $308.6B in headline value. Stated capacity: 1.2 GW. Counterparties: Oracle, Anthropic, IREN, Lambda, OpenAI, Nscale, Nebius, Constellation Energy, Brookfield Renewable, G42.

Verified 9 Nov 2026. Sums count each row’s headline figure as stated, cancelled deals excluded. Open in the full ledger

  1. Microsoft winds down its Oracle AI cloud capacity rental

    Buys from Oracle

    Value of the original 2023 deal (OCI capacity for Bing inference) was never disclosed. Date is the Bloomberg report; Microsoft declined to comment.

    n/d cancelled

  2. Anthropic–Microsoft–NVIDIA: $30B Azure commitment, up to $15B investment

    Sells to Anthropic

    $30 billion Azure compute purchase commitment at announcement. Investments: NVIDIA up to $10B, Microsoft up to $5B. Amended between February and October 2026 to a minimum spend of at least $44.9 billion between November 2026 and June 2033, per Anthropic's S-1/A.

    $30B1 1 GW expanded

  3. Microsoft–IREN $9.7B GB300 cloud contract

    Buys from IREN

    About $9.7 billion total contract value including a 20% prepayment. Separate ~$5.8 billion Dell equipment purchase by IREN.

    $9.7B1 0.2 GW signed

  4. Microsoft–Lambda multibillion-dollar GPU deal

    Buys from Lambda

    "Multibillion-dollar"; exact value not disclosed.

    n/d signed

  5. OpenAI–Microsoft recapitalization: $250B incremental Azure commitment

    Sells to OpenAI

    "Incremental $250B of Azure services" per Microsoft. Term not disclosed.

    $250B1 signed

  6. Microsoft–Nscale ~200,000 NVIDIA GB300 GPUs (US and Europe)

    Buys from Nscale

    Not disclosed by Nscale. CNBC reported the contract is worth up to $24 billion.

    n/d signed

  7. Microsoft–Nebius GPU capacity from Vineland, NJ

    Buys from Nebius

    About $17.4 billion through 2031 per Nebius 6-K; up to $19.4 billion if Microsoft buys additional services or capacity. Nebius's obligations start once it confirms financing.

    $17.4B1 signed

  8. Microsoft–Constellation 20-year PPA to restart Three Mile Island Unit 1

    Buys from Constellation Energy

    0.835 GW plant (Crane Clean Energy Center, formerly Three Mile Island Unit 1); a 20-year purchase of its output, not delivered data center capacity. Financial terms not disclosed.

    n/d signed

  9. Microsoft–Brookfield 10.5 GW renewable energy framework

    Buys from Brookfield Renewable

    Framework for over 10.5 GW of new generation, which Brookfield calls nearly 8x the largest single corporate PPA. No value disclosed.

    n/d signed

  10. Microsoft invests $1.5B in G42

    Sells to G42

    Microsoft's equity investment in G42; no Azure spend amount disclosed. Microsoft later counted it in $15.2 billion of UAE investment for 2023–2029.

    $1.5B1 completed

  11. Microsoft extends OpenAI partnership (third investment)

    Sells to OpenAI

    Microsoft described it only as a "multiyear, multibillion dollar investment". Amount not disclosed by the companies.

    n/d expanded