Nvidia in talks to guarantee billions in debt for Nscale's West Virginia site built for Anthropic
The guarantee would cover a 460 MW building that Anthropic plans to rent for about $45 billion. Nothing is signed, and the site has faced flooding complaints.
Illustration · not a photoIn short
Nvidia is in talks to guarantee billions of dollars of debt for the 460 MW West Virginia data centre building that Nscale is constructing for Anthropic, The Information reported on 29 October 2026. Bloomberg confirmed the talks. No deal has been signed.
Nvidia is in talks to guarantee billions of dollars of debt for the West Virginia data centre that Nscale is building for Anthropic, The Information reported on 29 October 2026, with Bloomberg confirming the talks.12 Neither side has signed anything yet, and the terms could change.2 Nscale declined to comment to Bloomberg, and Nvidia didn't respond.2
How the guarantee would work
The proposal is a residual value guarantee on the campus's first building, a 460 MW facility expected to use Nvidia's Vera Rubin chips.12 If Nscale missed construction payments, Nvidia would step in, run the site for a time and help find a buyer or a new tenant.12
In other words, Nvidia would carry some of the risk that nobody finishes or pays for the building. Lenders are more willing to fund a project when a company of Nvidia's size stands behind it.
Why Anthropic is at the centre
Anthropic agreed in August to rent computing power from that first building in a deal of about $45 billion.2 Nscale's IPO filing puts the first building's contract at $44.6 billion.1 TNW, citing the Financial Times, says the deal makes up more than 40% of Nscale's $103 billion revenue backlog.2 A second deal of similar size, for another building, is still under discussion.12
There's a catch. Anthropic can walk away if Nscale doesn't secure financing by a set deadline, and Nscale's filings say funding for the first building isn't in place yet.2 An unnamed investor told The Information that Anthropic's involvement likely explains Nvidia's interest.12
Problems on the ground
The site has had a rough few months. State regulators halted construction for three days in September after runoff from the site flooded nearby homes, and Nscale has received 10 notices of violation for poor stormwater controls, TNW reports.2 A person linked to Nscale told the FT that extreme weather caused the flooding and that the company has fixed the damage.2
Nscale is also small next to its commitments. It reported a $1 billion net loss on $141 million of revenue in the first half of 2026, TNW says, and is aiming for an IPO valuation of $30 billion to $35 billion.2
A pattern in AI financing
TechCrunch reports that Nvidia has extended roughly $170 billion in investments and credit support to newer cloud providers and large customers.1 Guarantees like this one keep its own chip orders moving, which is good for Nvidia's sales and for Anthropic's capacity, as long as the projects get built. Earlier this month, Microsoft pulled out of Nscale's planned UK site at Loughton.1
What to watch
- Whether Nvidia and Nscale sign the guarantee, and for how much.
- Whether Nscale secures financing before Anthropic's deadline, and when its IPO happens; TNW says December is more likely than November.2
Related: Microsoft exits Nscale's Loughton site and Anthropic files for its Nasdaq IPO.
Disclosure: Anawords uses Claude, made by Anthropic, as one of its research tools. Anthropic has no say in our coverage.
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- Editor approvalMayank Sahu · 3 Nov, 00:24
- Published3 Nov, 00:24
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How this was made: researched, drafted and source-checked by AI (Claude, made by Anthropic), then published under the editor’s standing approval. A person did not read it line by line before it went live. AI policy
Fact ledger
How labels workQuestions readers ask
What is Nvidia guaranteeing for Nscale?
Reports say Nvidia is discussing a residual value guarantee on billions of dollars of debt for a 460 MW building in West Virginia. Nothing is signed.
Why is Anthropic involved?
Anthropic agreed to rent computing power from that building in a deal of about $45 billion.