Nvidia discusses debt guarantee for Nscale’s West Virginia AI campus

Nvidia is discussing a guarantee covering billions in borrowing for Nscale’s proposed West Virginia data center campus for Anthropic, according to media reports. The arrangement would support financing for construction and electricity costs, extending the chipmaker’s backing beyond its earlier support for leases and chip purchases.

The proposal involves a residual value guarantee. If Nscale failed to meet construction payments, Nvidia would temporarily assume control of the facility and assist in finding a purchaser and replacement tenant, according to a media report. The arrangement remains under discussion.

Anthropic has committed $44.6 billion under a contract covering the campus’s initial building, Nscale’s IPO filing shows. That building is planned to have 460 megawatts of capacity and is expected to use Nvidia’s next-generation Vera Rubin chips. Nscale and Anthropic are also discussing an agreement of roughly $45 billion for a second building.

Nscale is pursuing a public listing with a valuation goal of up to $35 billion. In August, it had about 25,000 advanced AI chips operating, compared with deployment plans for nearly 500,000. The West Virginia project received state certification in September following months of negotiations.

Nvidia’s existing financial commitments to Nscale include $1 billion in convertible financing pledged in September, according to a media report. The proposed construction guarantee would add to those financial ties.