Mark Zuckerberg's Meta Is in Talks for a $10 Billion Anthropic Deal That Would Make Meta the Fourth Major Cloud Provider. Meta Stock Reports Q2 Earnings on July 29.

Meta Platforms is negotiating a $10 billion deal with Anthropic to lease cloud computing capacity, a move that would establish META as the fourth major cloud provider alongside Amazon, Microsoft, and Google. The potential agreement comes as Meta plans to allocate $125-145 billion in capital expenditures for 2026, earmarked for AI infrastructure development.

The company currently trades at a price-to-earnings ratio of 23, the lowest valuation multiple among the Magnificent Seven tech stocks, despite posting 33% year-over-year revenue growth. Digital advertising still generates 98% of Meta's revenue, and the Anthropic deal represents a strategic pivot to diversify income streams beyond its core ad business.

Meta reports second-quarter earnings on July 29, where management will likely face questions about the massive AI capex plan and the economics of the cloud venture. The Anthropic partnership would mark Meta's most aggressive move yet into enterprise infrastructure services, a departure from its consumer-facing platforms.