Google Nears $5B Deal for Anthropic Texas Data Center
Alphabet is close to finalizing a construction financing agreement for a Texas data center project valued at more than $5 billion. The facility has already been leased by Anthropic, signaling a major step in the expansion of AI infrastructure. Under the proposed deal, Google would provide loans to Nexus Data Centers, the developer of the 2,800-acre complex.
Rather than building the site directly, Google is serving as a financial backer. As a result, its strong credit profile could help a consortium of banks offer funding at more favorable rates. The construction loans are expected to close in the coming weeks, while banks continue competing to finance the first phase by mid-year.
Partnership Expands Beyond Cloud Services
This arrangement further strengthens one of the most significant partnerships in the AI industry. Google already supplies Anthropic with custom tensor processing unit clusters through Google Cloud to train large language models. Now, by supporting the physical infrastructure behind those workloads, Google is expanding its role from cloud provider to capital partner.
Earlier this month, Anthropic signed its lease with Nexus Data Centers. The facility is expected to deliver around 500 megawatts of power capacity by late 2026. Over time, however, the site could scale to nearly 7.7 gigawatts.
Additionally, the project plans to operate its own gas turbines using nearby pipelines. This approach aims to reduce dependence on the public grid and avoid surge pricing during peak demand periods.
Texas Strengthens Its AI Infrastructure Lead
Meanwhile, Texas continues to attract large-scale data center investments. According to Jones Lang LaSalle, the state is on track to become the world’s largest data center market by 2030. In November 2025, Google announced a separate $40 billion investment across three Texas data centers. During the same month, Anthropic revealed a $50 billion nationwide data center expansion beginning in Texas and New York.
More recently, Microsoft agreed to lease a 700-megawatt facility in Abilene that Oracle and OpenAI had previously exited.
Although Anthropic raised $30 billion in February at a $380 billion valuation, it has not disclosed how it plans to fund its broader infrastructure ambitions. Furthermore, the specific terms of the Google-backed construction loan remain undisclosed, and Nexus Data Centers has not issued a public comment.
