Google announces $15 billion financing package backing a major hyperscale AI campus in Texas linked to Anthropic, with a dedicated 1.6-gigawatt power generation facility co-located at the site.

Google is reportedly supporting a $15-billion financing package for an Anthropic-linked AI data center campus in Texas, structured around financial guarantees and custom AI chips to help underpin the deal.

A consortium of banks led by Morgan Stanley would lend $15 billion to Nexus Data Centers to develop the campus in Hubbard, Texas, according to reports citing people familiar with the matter. The facility would include its own natural-gas power plant capable of generating 1.6 gigawatts of electricity, with the deal potentially announced as soon as Thursday.

To help Nexus secure the debt, Google has reportedly provided guarantees covering billions of dollars of Anthropic's lease and power-payment obligations in the event the AI startup defaults. According to reports, Google's support was limited to the minimum amount required by lenders to complete the financing. The guarantees cover four data-center leases signed by Anthropic, along with corresponding power-purchase agreements tied to the behind-the-meter power plant that will support the campus.

Anthropic plans to equip the facility with tensor processing units that Google codesigns with Broadcom Inc. These chips would be financed through a separate vendor-financing agreement between Anthropic and Broadcom.

The overall financing package includes a $14-billion bridge loan and a revolving credit facility. In return for its support, Google is expected to receive an equity stake of around 20 percent in the data-center and power project.

The arrangement mirrors similar infrastructure finance structures emerging across the industry. OpenAI has pursued a comparable model by holding talks with Nvidia to arrange a $250-billion backstop for an Ohio campus that could eventually draw 10 gigawatts of power.