Financing for Nscale’s West Virginia AI campus is in focus after Bloomberg reported that the developer and Anthropic are discussing a second computing agreement worth about $45 billion.
Reuters, citing a person familiar with the plan, put the contemplated building’s capacity at 460 megawatts and identified Nvidia Vera Rubin chips as its hardware. Neither company has announced a second deal or confirmed its reported price and design.
The talks follow four Anthropic contracts that Nscale signed Aug. 25. In a Sept. 18 filing with the Securities and Exchange Commission, Nscale put their combined potential payments at up to about $44.6 billion. What it collects depends on delivery and service availability. Under one filed agreement, Anthropic’s payments for each portion of computing capacity begin only after it accepts that capacity for use.
That arrangement leaves Nscale responsible for supplying the infrastructure before it can collect the payments. When it filed its prospectus, the company had no binding commitments for the financing it said it needed to carry out the Anthropic contracts, a gap covered in EconoTimes’ earlier analysis of Nscale’s contract value and financing.
Nscale announced $3.36 billion in convertible-note financing on Sept. 25. It said an initial $2.36 billion had closed and that a further $1 billion from Nvidia was expected in mid-November. The announcement did not say the package fulfilled the financing needs disclosed for the Anthropic contracts.
Nscale is also seeking a New York Stock Exchange listing. Its September filing did not set a share count or price range. For the six months ended June 30, the company reported $140.6 million in revenue and a $1,020.1 million net loss.
Nscale says Monarch’s first phase is designed for 1.35 gigawatts of AI capacity. The expected Nvidia funding in mid-November is its next stated financing milestone; the company targets early 2028 for delivery of that phase.
