Nexus Data Centers lines up $15 billion financing for Texas AI campus to be leased by Anthropic

Nexus Data Centers is preparing roughly $15 billion in financing to build an AI data center campus in Hubbard, Texas, according to ChainCatcher. The site is expected to be leased by Anthropic, while Morgan Stanley will lead the related bank financing. The report said the borrowing entity is Nexus Data Centers rather than Anthropic itself, a distinction that shapes how the project is being funded. Google is set to use its investment-grade credit rating to back Anthropic’s lease obligations and related energy agreements. Those commitments cover four data center lease projects and a power purchase agreement tied to a 1.6 GW natural gas plant. In exchange, Google is expected to receive about a 20% equity stake in the data center and energy projects. Industry participants cited in the report said the structure shows how AI infrastructure development is relying more heavily on the balance sheets of major technology companies. The report added that a similar approach has appeared before in cooperation involving Nvidia and OpenAI, where chipmakers or cloud providers extend credit support to help AI companies finance large-scale compute facilities.