Google Nears Massive Financing Deal for Anthropic's 500-Megawatt Data Center Project

Google's Multibillion-Dollar Deal to Power Anthropic's Texas Data Centre

Key Highlights:

• Google is closing in on a multibillion-dollar deal to power a data centre leased to Anthropic in Texas
• The deal is expected to finalize in the coming weeks, with Alphabet, Google's parent company, offering construction loans for Nexus Data Centers, the operator of the site
• The financing could total more than $5 billion, with the support from Alphabet allowing the project to raise financing at a lower cost due to the tech giant's strong credit rating

Project Details:

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• The 2,800-acre data centre campus is part of Google's partnership with Anthropic, despite the company facing off with the Trump administration over the use of its AI in military use cases
• The lease for the project was signed earlier this month, with construction already underway at the Texas site
• The project is expected to deliver around 500 megawatts of capacity and could be ready as soon as early 2026, with eventual plans to expand to about 7.7 gigawatts of capacity

Behind-the-Meter Power Technology:

• The data centre's location near several major gas pipelines operated by companies like Enterprise, Energy Transfer, and Atmos could allow Nexus to power the site with its own gas turbines and avoid surge pricing
• Behind-the-meter power technology is growing in popularity among Big Tech companies, with around 50 gigawatts of behind-the-meter projects announced in 2025, according to research provider Cleanview

Market Trends:

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• Data centre developers are increasingly focusing on reducing their reliance on grid connections, which can be time-consuming and expensive to secure
• Energy usage from data centres in Texas is expected to reach 78GW by 2031, around 36% of the state's total power demand, according to estimates from the Electric Reliability Council of Texas