AI 巨头不建机房，全靠租，这账怎么算？半年只花 4.8 亿却背 7820 亿租约：Anthropic 招股书把算力账本掀开了

Anthropic 递交 S-1 招股书，2026 上半年资本开支仅约 4.82 亿美元，算力几乎全靠租，租赁义务却高达约 7820 亿美元。

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原文：Anthropic S-1: it spent just $482M on capex in H1 2026, leasing most of its compute, and its capex is almost entirely outsourced via $782B in lease obligations (Tim Culpan/Culpium)