Nexus Data Centers Seeks $15 Billion for Texas AI Campus

Nexus Data Centers, LLC is in advanced negotiations to secure approximately $15 billion in financing for a massive artificial intelligence infrastructure campus in Hubbard, Texas. The project is designed to serve the AI startup Anthropic, which has signed the necessary data-center leases and power-purchase agreements.

A banking group led by Morgan Stanley is discussing a financing package consisting of a $14 billion bridge loan and a revolving credit facility. To facilitate the deal, Google is providing financial guarantees covering Anthropic's lease and power-payment commitments should the startup default. In return for this support, Google is expected to receive an approximately 20% equity stake in the data center and power project.

The campus will include a natural-gas-fired power plant capable of producing 1.6 gigawatts of electricity. The site will be equipped with tensor processing units co-designed by Google and Broadcom Inc. These chips are being funded through a separate vendor-financing agreement between Anthropic and Broadcom.