Nvidia Mulls Acting as Co‑Signer for Nscale’s $45 B AI Data Center in West Virginia

Nvidia is in advanced talks to act as a co‑signer for the debt that will fund Nscale’s planned AI data center in West Virginia, a move that could lock in billions of dollars of financing for a project that has already attracted a $44.6 billion contract from Anthropic for its first 460‑megawatt building. The chipmaker’s involvement would take the form of a residual‑value guarantee: should Nscale default on construction payments, Nvidia would temporarily assume control of the facility, seek a buyer and secure a new tenant, according to The Information and later corroborated by Bloomberg. The proposed arrangement is tightly linked to Anthropic’s deployment of Nvidia’s next‑generation Vera Rubin chips (شرائح فيرا روبين) in the West Virginia campus. In addition to the initial $44.6 billion deal, the two companies are negotiating a second contract worth roughly $45 billion for another building on the same site. By guaranteeing the loan, Nvidia would not only protect its own chip sales pipeline but also cement a strategic foothold in a region that is vying to become a hub for AI compute. Nscale, which is preparing an IPO that could value the company at up to $35 billion, has struggled to meet its ambitious rollout targets. As of August it operated roughly 25,000 advanced AI chips, a fraction of the 500,000 it plans to field. The West Virginia campus has faced construction setbacks, including runoff that flooded nearby homes, and the project only secured state certification after months of negotiation. Earlier this year Nvidia already extended $1 billion of convertible financing to Nscale, part of a broader $170 billion of credit and investment support the chipmaker has supplied to the emerging “neocloud” ecosystem. Industry analysts see Nvidia’s potential guarantee as a double‑edged sword. On one hand, it could reassure investors and accelerate the build‑out of critical AI infrastructure, giving Nvidia a guaranteed customer for its high‑end GPUs. On the other hand, it deepens Nvidia’s exposure to the financial health of neocloud operators, many of whose shares have slumped more than 30 % this month amid mounting capital‑raising pressures. Looking ahead, the success of the co‑signing deal will hinge on Anthropic’s own financing trajectory. The AI startup is preparing for an IPO, but a warning from Blackstone that it may receive a below‑investment‑grade credit rating could raise its borrowing costs and increase reliance on partners like Nvidia. If the guarantee materializes, Nscale could finally move from planning to construction, but the broader market will be watching closely for signs of strain in the AI‑heavy capital ecosystem.