Anthropic Escalates Cloud Spending With $45 Billion Nscale Agreement

Anthropic has agreed to pay $45 billion to rent cloud computing power from neocloud company Nscale’s West Virginia data center, which is set to start operating in late 2027, Bloomberg reported Wednesday (Aug. 26), citing unnamed sources.

The six-year commitment covers about 460 megawatts of power, according to the report.

Neither Anthropic nor Nscale immediately replied to PYMNTS’ request for comment.

According to the Bloomberg report, Anthropic has also signed other deals for computing power in recent months, including ones amounting to $50 billion with Fluidstack, $10 billion with Volta Infra Holdings and $45 billion with SpaceX.

It was reported Aug. 4 that artificial intelligence-related developments could be driving around one-third of America’s economic growth. The factors driving this trend include tech companies spending and borrowing to satisfy their AI computing needs; data center projects fueling construction spending, hiring and municipal revenues; and an AI-related stock market rally increasing household wealth and helping to drive consumer spending.

It was reported July 10 that the five companies spending the most on AI data centers in the United States — Alphabet, Amazon, Meta, Microsoft and Oracle — doubled their debt load over the past five years to finance their efforts. In total, the companies added about $350 billion to their debt obligations.

The reported deal between Anthropic and Nscale comes at a time when both companies are preparing for initial public offerings.

It was reported Tuesday (Aug. 25) that Anthropic could aim to raise as much as $100 billion in its IPO and that the company is targeting a valuation of about $2 trillion.

Anthropic is preparing to tell investors that it anticipates potential revenues of more than $30 trillion, according to the report.

It was reported Friday (Aug. 21) that Nscale aims to raise as much as $3 billion in an IPO that could take place as soon as September.

Nscale is developing data centers in Norway and West Virginia, and the company has told potential investors that it has $51 billion in total contracted revenue, per the report.

Nscale Founder Josh Payne said in May that AI is “the fourth industrial revolution” and that it is “leading to the largest infrastructure buildout in human history.”

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