A data-center developer working with Anthropic is in advanced talks to borrow $15 billion to build a massive new campus and power plant in Texas, with Google providing financial guarantees and chips. The consortium of banks, led by Morgan Stanley, would lend the funds to Nexus Data Centers for the Hubbard, Texas project, which includes a 1.6-gigawatt natural-gas power plant.

Google's support involves guarantees for Anthropic’s lease and power-payment obligations, should the startup default. This backing is crucial for Nexus to secure the debt financing. The guarantees cover four data-center leases and power-purchase agreements for the campus's dedicated power plant.

Anthropic intends to equip the site with tensor processing units, chips co-designed by Google and Broadcom. These chips will be financed separately through a deal with Broadcom. The financing package comprises a $14 billion bridge loan and a revolving credit facility. In return for its support, Google is expected to gain an approximate 20% equity stake in the data-center and power project.