Google backs $15bn Texas AI data centre project for Anthropic

NEW YORK (Reuters) – Nexus Data Centers is in advanced talks to raise $15 billion for a massive artificial intelligence data centre campus in Texas tied to Anthropic, with Alphabet's Google providing financial guarantees and AI chips, the Wall Street Journal reported.

According to the report, a banking group led by Morgan Stanley is discussing financing for the project in Hubbard, Texas, which includes a natural gas-fired power plant capable of generating 1.6 gigawatts of electricity.

Google has reportedly agreed to guarantee billions of dollars of Anthropic's lease and power-payment obligations if the AI startup defaults. The guarantees are limited to the minimum amount required by lenders to complete the financing.

The guarantees cover four data centre lease agreements signed by Anthropic, along with power purchase agreements for electricity generated by the on-site power plant.

The financing package is expected to include a $14 billion bridge loan and a revolving credit facility. In return for its support, Google is expected to receive an approximately 20% equity stake in the data centre and power project.