Fluidstack reaches $18 billion valuation via Google and Anthropic AI deals

British startup Fluidstack has reached an $18 billion valuation following its role in expanding AI infrastructure for Google and Anthropic. Originally founded in 2017 to rent GPUs to researchers, the company has become a critical player in Google’s efforts to scale its Tensor Processing Unit (TPU) business as a competitor to Nvidia.

Fluidstack is facilitating large-scale data center deployments, including a project where Anthropic plans to invest $50 billion in new facilities built by Fluidstack to support the next generation of Claude. The company has secured capacity by leveraging excess power from cryptocurrency mining operations through deals supported by Google.

To fuel this expansion, Fluidstack recently completed a previously undisclosed $1.5 billion funding round led by Jane Street. While the company's growth is rapid, it faces significant financial obligations, with reports indicating over $15 billion in debt accumulated through partnerships for related projects.