Anthropic warned in its IPO prospectus that electricity supply constraints and rising energy costs could slow the buildout of AI infrastructure, according to Semafor. The company disclosed that power procurement negotiations, regulatory approvals, construction delays, and cost overruns pose material risks to data center development timelines. The prospectus highlights that Anthropic may be required to absorb grid upgrade costs even for facilities it does not directly use, and that certain power contracts obligate the company to pay regardless of whether expected capacity is delivered on time or at all. Tight supplies of electrical equipment, higher project financing costs, and counterparty execution risk were also cited as factors that could further inflate operating expenses. Additionally, climate-driven temperature increases and wildfire risk threaten data center infrastructure and raise cooling-related electricity and water costs.