Nvidia was reportedly discussing a guarantee for Nscale debt tied to construction and power infrastructure at the Monarch Compute Campus in Mason County, West Virginia, for capacity Anthropic intends to use. The October accounts described negotiations and said no guarantee had been signed at the time.
What the reported guarantee would do
The Information reported the discussions; TechCrunch later said Bloomberg had corroborated the account. The proposed arrangement was described as a residual-value guarantee. If Nscale defaulted on construction payments, Nvidia could temporarily take over the facility and help find a buyer and a new tenant. Those were reported proposed terms.
What Nscale disclosed about the Anthropic agreements
In its September 18, 2026, prospectus, Nscale said it had entered into four Anthropic Services Agreements on August 25. They provide for aggregate payments to Nscale of up to approximately $44.6 billion, subject to delivery and service-availability conditions. The agreements also require Nscale to use best efforts to obtain qualifying financing for GPU equipment and data-center infrastructure at Monarch. Nscale’s SEC registration statement says Nscale had not obtained binding commitments for financing required to perform the agreements as of the prospectus date.
The $44.6 billion is conditional aggregate payments under the four Anthropic agreements. It is separate from the proposed Nvidia guarantee. NeoTeo’s earlier coverage of Nscale’s pre-IPO financing addresses a separate financing announcement.
