Anthropic signs $45 billion AI computing deal with Nscale ahead of IPO

Aug 26, 2026

Anthropic has agreed to rent $45 billion in cloud computing power over six years from Nscale's West Virginia data center, utilizing Nvidia's cutting-edge Vera Rubin chips starting in late 2027. The deal is part of a massive compute acquisition spree by Anthropic, which includes a $10 billion deal with Volta and a $1.25 billion monthly commitment to SpaceX. These aggressive infrastructure investments come as Anthropic prepares for a confidential U.S. IPO targeting a $2 trillion valuation, backed by projected 2028 revenues of up to $200 billion.

Anthropic-Nscale $45 billion compute deal

▪Anthropic declined to comment on the reported $45 billion computing deal with Nscale.
▪Nscale will deploy Nvidia's new Vera Rubin chip architecture to support Anthropic's AI computing requirements.
▪The agreement between Anthropic and Nscale covers approximately 460 megawatts of power capacity, with operations expected to begin in late 2027.
▪Anthropic has agreed to a six-year, $45 billion deal to rent AI cloud computing power from Nscale's West Virginia data center campus.

Anthropic compute acquisition spree

▪Anthropic expanded its compute partnerships in April 2026, gaining access to an additional 5 gigawatts of compute from Amazon and expanding its relationships with Google and Broadcom.
▪Anthropic agreed to pay SpaceX $1.25 billion per month through May 2029 for compute capacity from SpaceX's Colossus and Colossus II AI training data center clusters.
▪Advanced Micro Devices announced plans in July 2026 to sell Anthropic tens of billions of dollars in AI servers and invest up to $5 billion in the startup.
▪Anthropic signed a six-year, $10 billion deal with AI cloud startup Volta Infra Holdings to secure cloud computing power from a data center in Norway.

Anthropic IPO preparations

▪Nscale is preparing for an initial public offering as soon as September 2026, aiming to raise up to $3 billion
▪Anthropic has confidentially filed for a U.S. initial public offering and could aim to raise up to $100 billion at a target valuation of about $2 trillion.

Anthropic revenue projections

▪Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion, compared to its current revenue run rate of $47 billion.
▪Anthropic is preparing to tell potential investors that it anticipates potential future revenues of more than $30 trillion.

AI industry infrastructure spending

▪Nscale has communicated to potential investors that the company has accumulated $51 billion in total contracted revenue.
▪The five largest U.S. spenders on AI data centers—Alphabet, Amazon, Meta, Microsoft, and Oracle—doubled their debt load over five years, adding $350 billion in debt obligations.