Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal, Bloomberg Reports

3-line summary

• Nvidia-backed data center developer Nscale is negotiating a roughly $45 billion computing contract with Anthropic covering a second building at its Monarch data center campus in West Virginia, with 460 megawatts of capacity using Nvidia's next-generation Vera Rubin AI chips, Bloomberg reported; both companies declined to comment, and the deal could close within days though terms may change. Anthropic separately holds a right of first refusal on a third building at the campus.
• Nscale is preparing an IPO targeting roughly a $30 billion valuation, and the deal could bolster its growth narrative; according to IPO regulatory filings, Anthropic and Nscale's existing infrastructure contracts already total up to $44.6 billion. The article noted that contracted value represents future commitments rather than cash already received, with massive upfront investment required for data center construction and power procurement.
• The report comes as investors question the economics of the AI-infrastructure buildout, drawing comparisons to CoreWeave, which has struggled with debt-fueled expansion and heavy capital spending; Nscale faces similar questions about financing and execution capacity.

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