Morgan Stanley leads a $15 billion investment in Anthropic's Texas campus

According to Thestreet, data center developer Nexus Data Centers is preparing approximately $15 billion in financing 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 related bank financing.

The report states that the financing entity is Nexus Data Centers, not Anthropic itself.

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 20% equity in the data center and energy projects. Industry insiders believe that this deal reflects the increasing reliance of AI infrastructure construction on the balance sheets of large tech companies.

A similar model was previously seen in the collaboration between NVIDIA and OpenAI, where chip or cloud computing giants provide credit support to help AI companies finance the construction of large-scale computing facilities.