Nvidia Discusses Guaranteeing Billions in Nscale Debt Tied to Anthropic Compute Deals

Nvidia is in talks to provide billions of dollars in credit guarantees to support debt financing for UK-based AI cloud provider Nscale. The financing will fund construction and power infrastructure for a 460-megawatt data center at Nscale's Monarch campus in West Virginia, featuring Nvidia's next-generation Vera Rubin chips. Anthropic previously signed a $45 billion compute rental agreement with Nscale in August and is negotiating another 460-megawatt deal valued at around $45 billion. The proposed structure would position Nvidia as an equity investor, chip supplier, and credit guarantor, raising scrutiny over circular financing risks across AI infrastructure.