Technology and Science27 March, 20262 min read
Google Nears Financing Of $5B Nexus Data Center Campus In Texas Leased To Anthropic
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Google to back a multibillion-dollar data center in Texas leased to Anthropic. Initial phase could exceed $5 billion, with Google providing construction loans.
Major new development confirms Google financing move
Google is closing in on financing a multibillion-dollar Nexus Data Centers project in Texas that is leased to Anthropic, signaling Alphabet’s ascent to infrastructure backer alongside its cloud services. A consortium of banks is competing to arrange construction loans by mid-year for the 2,800-acre campus, whose initial phase could exceed $5 billion. The project is designed to deliver about 500 megawatts of capacity by late 2026, with ambitions to scale to roughly 7.7 gigawatts.
“Google is closing in on a multibillion-dollar deal to power a data centre leased to Anthropic in Texas.”
Its location beside major gas pipelines would allow Nexus to power the facility with on-site gas turbines, potentially avoiding surge pricing and grid constraints. This arrangement deepens the Anthropic-Google tie-up and signals a broader push by tech giants to own critical AI compute infrastructure.
Financing costs and bank race
Alphabet’s backing would likely lower financing costs for the project, leveraging Google’s strong credit rating to attract lenders. That dynamic helps Nexus raise more than $5B in initial funding and reduces the burden on Anthropic's finances.
The deal is framed as a strategic tie-up that deepens the Google-Anthropic compute ecosystem, with Google already providing Anthropic with access to TPU-based compute and integration with Vertex AI. The banks are vying to arrange the financing by mid-year, signaling high demand for AI compute infrastructure deals.
Timeline and funding mechanics
The 2,800-acre campus is expected to deliver about 500 megawatts of capacity by late 2026, with expansion potential toward 7.7 gigawatts. Construction is already underway, aided by early-stage debt financing from Eagle Point, and the lease with Nexus was signed earlier this month.
By mid-year, a consortium of banks is expected to line up financing for the first phase, underscoring how high the stakes are for AI infrastructure reliability and cost. The arrangement also positions Anthropic to access greater compute capacity as it and Google solidify their broader collaboration, including ongoing data-processing ties.
Energy strategy and resilience
The site is located near major gas pipelines, enabling Nexus to power the facility with on-site gas turbines and avoid surge pricing.
Behind-the-meter power technology has grown in popularity in data-center planning, with around 50 gigawatts of such projects reported in 2025.
Geopolitical and regulatory context
Cointelegraph notes that US military units reportedly used Anthropic’s Claude model in a major Iran strike even after a ban order.
“US military units reportedly used Anthropic’s Claude AI model during a major airstrike on Iran, even after the ban order by Trump.”
Anthropic has faced pressure from the Trump-era administration over its use of AI for military purposes, and FT describes a breakdown in negotiations with the Pentagon over such usage.