Anthropic, Nscale Eye Second $45B Compute Deal
Original: Nscale and Anthropic are reportedly in talks for yet another $45 billion compute deal
Why This Matters
Back-to-back $45B deals signal compute spending is accelerating, not plateauing.
Anthropic and AI infrastructure firm Nscale are in talks for a second $45B compute deal, Bloomberg reports, just weeks after the two announced an identical $45B agreement in September 2026.
Less than six weeks after Anthropic and Nscale closed a $45 billion compute deal, the two are reportedly negotiating an identical follow-on agreement. Bloomberg, citing people familiar with the matter, says an announcement could come soon—though sources cautioned that talks remain ongoing and terms could shift.
If finalized, the deal would extend Anthropic's aggressive infrastructure spending spree. The company has signed a string of large compute contracts over the past year, betting that massive upfront investment will translate to long-term returns despite skepticism from some investors who see ballooning costs and thin margins.
Both companies have IPO ambitions in play simultaneously. Anthropic is still targeting a public offering this year. Nscale is also pursuing a listing, but Bloomberg separately reported today that the company faces investor resistance over its proposed $30 billion valuation—adding friction to what is otherwise a rapidly escalating partnership. TechCrunch reached out to both companies and had not received a response at time of publication.