Meta Platforms is in talks to lease computing power to Anthropic in a potential deal worth as much as $10 billion over two years, the New York Times reported Friday, ​citing three people with knowledge of the discussions.

Shares of the social ⁠media giant slightly pared losses on the ​news to trade down nearly 3% amid ⁠a wider tech selloff.

Such a deal would help Meta diversify beyond its core advertising business by ‌generating new revenue from its infrastructure ​investments and directly ‌pitting it against CoreWeave and Nebius, as growing adoption ‌of advanced tools drive up the need for computing capacity.

Anthropic had proposed the deal ⁠in June and ‌Meta is considering ⁠it, the report said.

The Claude Code creator would ⁠pay ⁠Meta in monthly increments over the two-year period, although the ‌terms remain subject to change, NYT reported, adding that both companies would have the option to ‌exit ​the agreement ‌early.

Anthropic declined to comment, while Meta did not immediately respond to Reuters' request. ​Reuters could not independently verify the report.