Google nears $5B+ deal to finance Anthropic's 500MW data center

Google is reportedly finalizing a multi-billion dollar financing agreement, potentially exceeding $5 billion, to support a 500-megawatt data center project in Texas. The facility is intended to be leased by AI firm Anthropic and operated by Nexus Data Centers. Construction has already begun on the 2,800-acre campus, which has secured early-stage debt from asset manager Eagle Point. The project is slated to deliver its initial 500MW capacity by early 2026, with future expansion plans to reach approximately 7.7 gigawatts. A key strategic element of the Texas location is its proximity to major gas pipelines, which would allow Nexus Data Centers to power the facility using its own gas turbines, thereby reducing dependence on grid connections and avoiding surge pricing from a single energy source. This strategy aligns with a broader industry trend among data center developers seeking to mitigate the challenges of traditional grid reliance.