Nscale is negotiating to sell Anthropic about $45bn more in AI computing capacity, two months after the two companies agreed to a deal of the same size. Bloomberg reported the talks, citing people familiar with the matter.
A deal could be signed within days, although the terms may still change. Both companies declined to comment to Bloomberg, and we have not independently verified the report.
The new contract would cover a second building at Nscale’s Monarch campus in Mason County, West Virginia. People told Bloomberg that the building would supply 460 megawatts of power for Nvidia’s upcoming Vera Rubin chips.
Those numbers repeat the first Nscale deal, agreed in August. Under it, Anthropic will spend $45bn over six years to rent capacity in the campus’s first building. In addition, Anthropic holds the right of first refusal on a planned third building, according to Bloomberg.
For Nscale, the timing matters as the London company has filed for a New York listing and is seeking a valuation of about $30bn. The filing already values its agreements with Anthropic at up to $44.6bn.
Nscale also raised money ahead of the listing; in September, it closed a $3.36bn pre-IPO round led by the hedge fund Third Point.
Its prospectus names Anthropic and Microsoft as its expected main customers. However, Microsoft dropped its plan to be the main tenant at Monarch. Slow progress on the grid connection had pushed its expected start date into the 2030s.
Anthropic is preparing its own stock market debut. Meanwhile, a group of its investors has urged the company to lower its IPO valuation target after a run of setbacks for AI stocks, Bloomberg reported.
Investors are also looking more closely at AI infrastructure built with borrowed money. Last week, CoreWeave shares fell amid concerns about its $50bn debt load, Reuters reported, setting off a wider sell-off in AI stocks.
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