Morgan Stanley Leads $15 Billion AI Data Center Financing for Nexus Data Centers

Nexus Data Centers is preparing to raise approximately $15 billion to build an AI data center campus located in Hubbard, Texas, which will be leased by Anthropic in the future. Morgan Stanley will lead the financing from related banks. The financing entity is Nexus Data Centers, not Anthropic. Google will use its investment-grade credit rating to guarantee Anthropic's leasing obligations and related energy agreements, involving four data center leasing projects and a power purchase agreement for a 1.6 GW natural gas power plant. In exchange, Google is expected to receive about a 20% equity stake in the data center and energy projects. Industry insiders believe that this deal reflects the increasing reliance of AI infrastructure development on the balance sheets of large tech companies, a similar model previously seen in the collaboration between NVIDIA and OpenAI.

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