Dumped by Microsoft, Nscale nears second ~$45B Anthropic deal
What's the deal? Nscale is in talks with Anthropic for a second cloud computing contract worth roughly $45 billion, BloombergDealroom has a profile for this one. Try Dealroom → reported. The potential agreement would add a proposed 460 MW facility at Nscale's Monarch campus, on top of earlier Anthropic deals disclosed at up to about $44.6 billion.
What's the endgame? Nscale provides data centre capacity for artificial intelligence workloads, while Anthropic builds AI models and needs vast compute to run them. For Anthropic, the talks are part of a wider push to lock in power and compute across providers including Amazon, Google, Microsoft, and SpaceX.
Why now? The deal could help Nscale offset Microsoft's withdrawal from a separate UK site agreement in October 2026. It remains under negotiation, not a signed contract.
The IPO angle: Nscale is weighing a public listing, but investors have reportedly challenged its roughly $30 billion valuation, arguing for $16–19 billion instead.
What could go wrong? A large contract pipeline is not the same as deliverable capacity. The proposed site faces power delays, raising questions over whether Nscale can finance and build what it has promised.
The signal: The talks underline the scale of Anthropic's demand and the broader scramble among AI firms to secure compute. The open question is whether suppliers like Nscale can convert headline deals into financed, working infrastructure.
Read more: Investing.com
