Cipher Digital

Google is backing Anthropic's Texas campus with lease guarantees and a significant stake, establishing a template for $35 billion in future deals.

Morgan Stanley is leading financing talks for Anthropic's Texas campus, a deal involving a $14 billion loan, Google's guarantees, a stake, and TPU financing from Broadcom.

Cipher Digital secured its backlog by having a Bitcoin miner underwrite Amazon's balance sheet, ring-fencing risk within project debt.