Nvidia Weighs Billions of Dollars in Credit Guarantees to Support Anthropic Data Center
Key Facts
Nvidia is in talks to provide billions of dollars in credit guarantees to Nscale to help finance power infrastructure and construction for a data center dedicated to Anthropic in West Virginia, Reuters reported, citing The Information. The agreement had not been signed as of the report, its terms could change, and the companies did not confirm the details to Reuters. The proposal comes as Nscale faces a financing gap in carrying out its agreements with Anthropic; the company said in its filing with the U.S. Securities and Exchange Commission that it had not secured binding financing commitments for the required amounts. The filing shows that the first computing contract provides for potential total payments of up to about $44.6 billion, contingent on delivery and service availability. That amount is the potential value of computing services, not the value of the center or the guarantees Nvidia is considering.
Anthropic and Nscale entered into service agreements on August 25, 2026, according to Nscale’s filing, to provide dedicated GPU computing infrastructure at the Monarch campus using Nvidia Vera Rubin NVL72 units. The total payments stipulated in the agreements reach about $44.6 billion, subject to delivery and service availability, according to the filing. Reuters described the agreement in its report as a $45 billion deal to lease computing capacity from Nscale’s West Virginia campus. The difference between the figures reflects that Reuters’ estimate is approximate, while the company’s filing presents the maximum potential payments and their conditions. The service contract should not be confused with the financing arrangements Nscale is still seeking to provide the equipment and infrastructure required.
Nscale said in its filing that it is required to use best efforts to obtain qualifying financing for the GPU equipment and infrastructure required at the Monarch campus within a specified period after the agreements take effect. The parties can agree to a later extension and negotiate its terms, according to the disclosure. But the company also said it had not secured binding financing commitments as of the filing date, and that the required financing arrangements were still in process. This disclosure puts Nvidia’s potential guarantee in the context of closing the project’s financing gap, not increasing the value of Anthropic’s contract. Reuters reported that the proposed credit support would be used for power infrastructure and construction, while its final terms remained unresolved.
Alongside the first service contract, Nscale and Anthropic were discussing a second facility at the Monarch campus with a capacity of 460 megawatts, as part of another potential deal that could be worth about $45 billion, according to Reuters. Those discussions are separate from the August agreement, whose payments reach about $44.6 billion; details of the second facility had not been settled, and negotiations were ongoing at the time of the report. Reuters also reported that Anthropic has a right of first refusal on the expected third building at Monarch. This means the campus’s potential expansion extends beyond the facility tied to the first contract, but it does not make the second deal final. Its figures remain estimates tied to unresolved talks.
The search for credit support comes amid investor scrutiny of debt-funded expansion in AI infrastructure. Reuters reported that concerns over the $50 billion debt burden of Nscale competitor CoreWeave weighed on its shares and sparked a sell-off in AI stocks. This highlights the market’s sensitivity to the large financing commitments needed to build and operate data centers, at a time when computing contracts are tied to long-term projects. In Nvidia trading, the stock closed at $204.64 on October 30, 2026, compared with a close of $213.66 on October 29, according to EL7 data. These data do not link the stock’s move directly to the guarantee talks.