Nvidia discusses credit guarantees for Nscale’s Anthropic data center

Nvidia is discussing billions of dollars in credit guarantees for debt financing tied to Nscale’s planned 460-megawatt West Virginia data center for Anthropic, according to people with knowledge of the talks cited in the reporting. The proposed support would cover power infrastructure and construction, but the arrangement has not been signed and its terms could change.

That backing could help Nscale finance the physical infrastructure needed for its Anthropic contract. No company has announced a guarantee amount; the reporting characterized the talks as involving billions of dollars.

Nscale’s September registration statement said the company had not obtained binding commitments for any financing required to perform its Anthropic agreements and was developing a plan involving multiple funding sources. Nscale said those agreements, signed Aug. 25, provide for payments of up to about $44.6 billion, subject to delivery and service-availability requirements.

The Anthropic agreements call for dedicated Nvidia Vera Rubin NVL72 infrastructure at Nscale’s Monarch Compute Campus in four tranches. Each tranche has a multi-year service term that begins after Anthropic accepts it. The reported guarantees are separate from Nvidia’s existing investment relationship with Nscale; Nscale says Nvidia participated in two of its funding rounds. Nvidia, Nscale and Anthropic have not publicly confirmed the guarantee discussions or disclosed proposed terms.