Nexus

Nexus is developing a significant data center campus in Hubbard, Texas, intended for Anthropic's operations. This project is notable for its scale, with plans including a 1.6-gigawatt gas power plant. The financing for this ambitious undertaking is substantial, reportedly involving around $15 billion in debt.

The financial backing for the Texas campus is complex, with Google playing a crucial role through lease guarantees and equity stakes. This support appears to be a key factor in securing the large debt financing, which is being led by Morgan Stanley. Broadcom is also contributing through TPU financing, underscoring the collaborative nature of this large-scale infrastructure development.

This Nexus project highlights a trend of major technology companies underwriting significant AI infrastructure development. The substantial financial commitments and strategic partnerships involved demonstrate the immense capital required to support advanced AI research and deployment. The scale of the Texas campus and its financing indicate a long-term investment in AI capabilities and the underlying physical infrastructure.

Last updated August 23, 2026