Coatue, a $60 billion VC firm, has created a new venture to acquire land near large power sources for data centers, according to reports. The firm is reportedly working with or on behalf of Anthropic, though neither company has confirmed the relationship. The locations being targeted have access to significant electricity capacity—critical for running energy-hungry AI systems.
This move fits a broader pattern of VCs getting into infrastructure. Data center demand has skyrocketed as AI companies compete for computing power. Coatue's entry into land acquisition puts it directly in the middle of that scramble.
The timing is notable: Anthropic is currently building out its compute infrastructure and has discussed plans for larger models that would require substantial facilities. Whether Coatue's land grab is specifically for Anthropic or a broader play remains unclear—but the reported connection is not surprising given the company's growth trajectory.