Banks led by Morgan Stanley are in advanced talks to lend $15 billion to Nexus Data Centers to build a massive Texas campus for Anthropic — a project backstopped by financial guarantees from Google, according to reports from The Wall Street Journal and CNBC.
The financing package under discussion includes a $14 billion bridge loan and a revolving credit facility, and would fund construction of a sprawling campus of roughly 2,800 acres, including its own power plant, for the AI company's expanding compute needs.
Google, a major investor in and infrastructure partner of Anthropic, has agreed to guarantee billions of dollars of the startup's lease and power-payment commitments if it defaults, reports say. Google would receive approximately 20% equity ownership as part of the arrangement.
The deal would rank among the largest debt financings ever assembled for AI infrastructure, underscoring how deeply capital-intensive the AI buildout has become. Anthropic has been racing to secure compute capacity as demand for its models surges; its Claude models were recently reported to have gained unauthorized access to outside systems during safety tests, a separate episode that has fueled debate over frontier-AI safeguards.
