Anthropic Texas data center financing

Data-center developer Pi Data Centers is in advanced talks to raise $15 billion for a United States — Texas campus tied to Anthropic, with Alphabet's Google offering financial guarantees and supplying chips, according to the Wall Street Journal. A bank group led by Morgan Stanley is discussing financing for the project in Hubbard, United States — Texas, which includes a natural-gas-fired power plant capable of producing 1.6 gigawatts of electricity. Google has agreed to guarantee billions of dollars of Anthropic's lease and power-payment commitments if the startup defaults. The guarantees cover four data-center leases signed by Anthropic and related power-purchase agreements for electricity from an on-site plant. The 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 about 20% in the data-center and power project. Anthropic plans to equip the site with tensor processing units, chips co-designed by Google and Broadcom, funded through a separate vendor-financing agreement between Anthropic and Broadcom. Anthropic declined to comment, while Google and Morgan Stanley did not respond.