The developer Nexus Data Centers is teaming with the artificial intelligence (AI) leader Anthropic to borrow $15 billion for the creation of a new data center campus and power plant in Hubbard, Texas.
The Wall Street Journal, sourcing its coverage from unnamed “people familiar with the matter,” reports that Morgan Stanley is leading a consortium of banks that would provide funding for this project, which would feature its own natural-gas power plant that would generate 1.6 gigawatts of electricity.
To help Nexus obtain funding, Google has reportedly agreed to provide guarantees for billions of dollars of Anthropic’s lease and power-payment obligations in the event the project never comes to fruition. The guarantees cover four data-center leases Anthropic has signed, along with the corresponding power-purchase agreements drawn from the standalone power plant that will support the campus.
The financing package reportedly includes a $14 billion bridge loan and a revolving credit facility. Google would gain an equity stake of roughly 20% in the data center and power project.
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