Anthropic is negotiating a 2nd $45B compute deal with Nscale that would double its West Virginia reservation to 920 MW.
This is for another 460 MW building at Nscale’s Monarch Compute Campus running Nvidia’s Vera Rubin chips, and Anthropic also holds a right of first refusal on the campus’s expected third building.
The first contract, signed in August, is a 6-year, 460 MW lease with delivery starting in late 2027, which averages $7.5B a year, or about $16.3M per MW.
Because Monarch’s first phase is designed for 1.35 GW across 3 buildings, Anthropic could end up holding the entire initial development.
Nscale’s IPO filing lists Anthropic agreements worth up to about $44.6B.
A second Anthropic deal would strengthen Nscale’s listing pitch, yet its value depends on Monarch energizing its first building and Vera Rubin racks on schedule in late 2027.