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

What happened

• Nscale is reportedly negotiating a second contract to provide Anthropic with AI cloud capacity at its Monarch campus in West Virginia.
• The potential deal could be worth about $45 billion, according to Reuters and Bloomberg; discussions remain ongoing and details may change.
• Anthropic and Nscale announced a similar $45 billion compute deal in August, according to Reuters and TechCrunch.

Why it matters

The reported agreement would deepen Anthropic’s reliance on dedicated AI infrastructure and increase Nscale’s contracted backlog. It also highlights financing, capacity-delivery and valuation risks in rapidly expanding AI data-center infrastructure.

What to watch. Whether Nscale and Anthropic finalize the reported second deal, and whether Anthropic exercises its right of first refusal on Monarch’s expected third building.

Deal terms

Timeline

1. First reported by ReutersOct 19
   Nvidia-backed Nscale, Anthropic in talks for new $45 billion AI cloud deal, source says
2. Bloomberg reportsOct 19
   Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
3. Techmeme reportsOct 19
   Sources: Nscale is in talks for a second deal with Anthropic worth ~$45B to deliver 460MW of computing power at its West Virginia campus using Vera Rubin chips (Bloomberg)
4. Financial Times reportsOct 19
   Anthropic and Nscale in talks for second multibillion-dollar deal
5. TechCrunch reportsOct 19
   Nscale and Anthropic are reportedly in talks for yet another $45 billion compute deal
6. CNBC reportsOct 20
   Anthropic in talks with neocloud Nscale over second multibillion-dollar deal, source tells CNBC

Who is involved

Sources (6)

1. ReutersOct 19
   Nvidia-backed Nscale, Anthropic in talks for new $45 billion AI cloud deal, source says
2. BloombergOct 19
   Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
3. TechmemeOct 19
   Sources: Nscale is in talks for a second deal with Anthropic worth ~$45B to deliver 460MW of computing power at its West Virginia campus using Vera Rubin chips (Bloomberg)
4. Financial TimesOct 19
   Anthropic and Nscale in talks for second multibillion-dollar deal
5. TechCrunchOct 19
   Nscale and Anthropic are reportedly in talks for yet another $45 billion compute deal
6. CNBCOct 20
   Anthropic in talks with neocloud Nscale over second multibillion-dollar deal, source tells CNBC

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