Google is reportedly set to provide construction loans to Nexus Data Centers for a $5 billion-plus data center project in Texas that is already leased to AI startup Anthropic.
$GOOGL is nearing a multibillion-dollar deal to finance a Texas data center leased to Anthropic.
The project, via Nexus Data Centers, aims for 500MW by 2026, using direct gas supplies to bypass grid delays.
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The news was first reported by the Financial Times, citing people with knowledge of the matter.
The loans are expected to be finalized in the coming weeks. Alphabet, Google’s parent company, is not building the facility itself but is backing it financially, with its strong credit profile expected to help attract additional bank funding at better rates.
A consortium of banks is reportedly competing to fund the project’s first phase by mid-year.
The data center sits on 2,800 acres and is designed to deliver around 500 megawatts of power capacity by late 2026. Long term, the facility could scale to approximately 7.7 gigawatts — a substantial footprint for AI compute infrastructure.
Anthropic signed a lease with Nexus Data Centers earlier this month.
The site’s location between several major gas pipelines is no accident. Nexus plans to power the facility using its own gas turbines rather than relying on the public grid.
That setup is designed to sidestep surge pricing during peak energy demand — a growing concern for operators running power-hungry AI workloads around the clock.
It also gives the facility more control over its energy supply, which is increasingly a sticking point for large-scale data center projects.
Google already supplies Anthropic with custom-designed TPU clusters through Google Cloud to train its large language models.
That arrangement benefits both sides. Anthropic gets the compute it needs at scale, while Google uses the partnership to strengthen its Vertex AI platform.
Financing the Texas data center takes the relationship a step further, moving Google from cloud supplier to infrastructure backer.
The financial details of the construction loan — including size and terms — have not been disclosed publicly.
Nexus Data Centers has not commented. Anthropic inked its lease with Nexus earlier this month, ahead of the expected loan finalization in the weeks ahead.
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