Key points
- Anthropic discusses another $45 billion Nscale deal
- A second Monarch building would add 460 megawatts
- Financing was a condition of the first deal
Anthropic is discussing a roughly $45 billion deal to rent AI computing power from Nvidia-backed Nscale, expanding on an agreement signed in August, Bloomberg reported Monday.
The proposed deal would cover a second building at Nscale's Monarch campus in West Virginia, adding 460 megawatts of capacity equipped with Nvidia's (NVDA) Vera Rubin chips. Anthropic also has a right of first refusal on a planned third building.
The talks are ongoing, and terms could change. Both companies declined to comment.
First Monarch deal depended on financing
Anthropic signed its first agreement with Nscale on Aug. 25, worth up to $44.6 billion, according to Nscale's IPO filing. That deal also covers Vera Rubin systems at Monarch.
In its IPO filing, Nscale said it had not yet secured binding financing commitments for the Anthropic capacity. The contract lets Anthropic terminate if that money isn't secured by a set deadline.
Nscale's contracts lean on two customers
Nscale filed in September to list on the New York Stock Exchange under the ticker NSCL. It reported $103.4 billion in signed customer contracts as of Aug. 31. Anthropic's deal and a Microsoft agreement worth up to $43.8 billion made up about 85% of that total.
A second deal near $45 billion would add to Anthropic's long list of compute contracts. Bloomberg said some investors have urged Anthropic to lower its IPO valuation target after recent setbacks for AI companies.
