Bloomberg: Nscale and Anthropic in Talks for Another $45 Billion Compute Deal
Bloomberg reports that Nscale and Anthropic are nearing a new $45 billion cloud computing deal. This follows an identical-sized agreement announced in August, highlighting the intense capital expenditure and potential valuation risks in the AI infrastructure sector.
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According to Bloomberg, UK-based AI infrastructure firm Nscale and US artificial intelligence startup Anthropic are in talks for a $45 billion cloud computing deal. Sources familiar with the matter stated that the two companies are on the verge of announcing this new agreement, though negotiations are still ongoing and details could change.
If finalized, this would be the latest in a long string of massive compute deals struck by Anthropic over the past year. Notably, just over a month ago (August 2026), Anthropic and Nscale announced a $45 billion compute deal of the same magnitude. The repetition of such large-scale orders within a short period has raised concerns about the sustainability of capital spending in the AI industry.
The massive amount of money being sunk into AI compute deals has spooked a certain segment of investors, who worry that companies are spending too much for too little profit. Still, Anthropic has pressed on with such partnerships, driven by the belief that it will all pay off in the end. Both Nscale and Anthropic are currently pursuing IPOs. Bloomberg also reported today that Nscale is experiencing investor pushback over its proposed valuation of $30 billion.