Anthropic flags power shortages as a risk in its S-1 filing

In its S-1 filing with the SEC, Anthropic said grid connection backlogs and natural gas supply constraints threaten its AI data center expansion. Connecting a new site to regional grids takes 2–3 years, pushing developers to install on-site gas turbines. Higher utility bills could shrink operating margins and stall hardware expansion.

• Grid connection for a new data center takes 2–3 years
• US data center power demand will double between 2025 and 2027
• Oracle filed force majeure after a gas pipeline permit was blocked
• Higher utility bills could directly shrink Anthropic's operating margins