KUALA LUMPUR, October 20 2026, Nscale Ltd is reportedly in talks with Anthropic PBC to supply computing capacity in a deal potentially worth US$45 billion (RM184 billion), as demand for artificial intelligence (AI) infrastructure continues to surge.
According to Bloomberg, the Nvidia-backed data centre developer is negotiating a second major agreement with Anthropic, the company behind the Claude AI chatbot, to develop another facility at its Monarch data centre campus in West Virginia, United States.
The proposed facility would provide 460 megawatts of computing capacity powered by Nvidia’s advanced Vera Rubin AI chips. Anthropic also holds the right of first refusal on the campus’s planned third building.
The agreement could be finalised within days, although negotiations remain ongoing and the terms may change. Representatives from both companies declined to comment.
Nscale’s planned deal comes as the company prepares for an initial public offering (IPO), targeting a valuation of approximately US$30 billion. A regulatory filing showed that its existing infrastructure agreements with Anthropic could be worth up to US$44.6 billion.
Anthropic has become a major customer for data centre operators as it expands its AI capabilities. Its other reported computing infrastructure commitments include US$50 billion with Fluidstack Ltd, US$10 billion with Volta Infrastructure Holdings Ltd and US$45 billion with SpaceX.
The Monarch campus is designed to scale beyond eight gigawatts of gross power capacity when fully completed, according to Nscale’s IPO filing.
Microsoft Corp had initially planned to lease part of the West Virginia site after signing a letter of intent in March. However, the company withdrew from the project during the summer, paving the way for Anthropic to occupy the facility, Bloomberg reported.
Anthropic, valued at US$965 billion in May, is also reportedly preparing for a potentially record-breaking IPO in the coming months as it seeks additional computing resources to support its growth.
Meanwhile, concerns are mounting among investors over the substantial borrowing used to finance the AI data centre boom, raising questions about the financial sustainability of the sector.
Nscale publicly filed for a US listing in September but has yet to begin formal marketing. The company is addressing comments from the US Securities and Exchange Commission before proceeding with its IPO roadshow.
Last month, Nscale secured US$3.36 billion in pre-IPO financing in a round led by Third Point, with participation from Nvidia, Apollo Global Management, Citadel, Hudson Bay Capital and Abu Dhabi Investment Council.
-THEEDGEMALAYSIA
