Anthropic Inks $45B Deal with Nscale, Bolstering UK Infrastructure Company's IPO Plans

Nscale's plans for an initial public offering (IPO) have been bolstered by a massive deal with Anthropic, which has agreed to pay $45 billion over six years for computing capacity at Nscale's West Virginia campus.

The 460-megawatt deal is the largest contract in Nscale's $51 billion revenue backlog and will be highlighted by Goldman Sachs and JPMorgan when they pitch the UK infrastructure company's IPO to investors.

Nscale acquired the site, known as Monarch, in March 2026 for $2 billion at a valuation of $14.6 billion, and has described it as the United States' first state-certified AI microgrid with a total power potential scalable to over eight gigawatts.

The campus will run on a natural gas microgrid, which has raised concerns from environmental advocates about emissions from large-scale natural gas generation.