At a glance
- Nvidia would serve as guarantor if Nscale defaults, allowing Nscale to raise debt against Nvidia's credit.
- The guarantee changes which balance sheet carries construction risk on Monarch's first building.
- Nscale has two Anthropic contracts at the site, each for 460MW of capacity, valued at around $45 billion, according to the report.
Nvidia is in talks to backstop debt for Nscale's 460MW Anthropic data center in West Virginia, with credit guarantees estimated at more than $5 billion, The Information reported, citing people with knowledge of the discussions. Nvidia would serve as guarantor if Nscale defaults, allowing Nscale to raise debt against Nvidia's credit. The support would cover power and construction for the first building Anthropic contracted at the Monarch Compute Campus, which is to house Nvidia's Vera Rubin hardware.
The guarantee changes which balance sheet carries construction risk on Monarch's first building. Debt for that phase would be sized and priced against a hardware supplier's credit instead of a pre-revenue developer's. For allocators looking at the project, that shifts the underwriting question from Nscale's startup risk to Nvidia's credit. The backstop covers one building; the rest of the first 2GW phase would still be financed on Nscale's own Anthropic contracts. Nscale filed for its IPO in September 2026 and raised $3.36 billion in private funding later that month.
Nscale has two Anthropic contracts at the site, each for 460MW of capacity, valued at around $45 billion, according to the report. It signed the second in October 2026.
Monarch is Nscale's largest project. The company bought the 2,250-acre West Virginia site in March 2026, and the campus has potential for up to 8GW of capacity, with a first phase of 2GW expected online in the first half of 2028. The Information report names Caterpillar G3500 fast-response natural gas generator sets as the power source.
Nvidia has invested an estimated $170 billion in neoclouds and large customers, including through credit guarantees for their buildouts, according to the report.
Whether the guarantee stops at one building or scales across Monarch's later phases is the term that decides how much of the campus is financed on Nvidia's credit. Anthropic has separately filed for a Nasdaq listing, as Private Wealth Daily previously reported.
| Item | Detail | Source |
|---|---|---|
| Credit backstop | More than $5 billion, estimated | The Information, via Data Center Dynamics |
| Capacity per Anthropic contract | 460MW | The Information, via Data Center Dynamics |
| Contract value | Around $45 billion | The Information, via Data Center Dynamics |
| Site | 2,250 acres, West Virginia, acquired March 2026 | Data Center Dynamics |
| Campus potential | Up to 8GW; first phase 2GW by H1 2028 | Data Center Dynamics |
| Power | Caterpillar G3500 fast-response gas generator sets | Data Center Dynamics |
Reported by the Data centers & fiber desk from Data Center Dynamics and The Information. Published . Corrections