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Anthropic-Linked Nexus Data Centers Lining Up Roughly $15B in Bridge Financing From Banks
Nexus Data Centers, the developer behind a 2,900-acre data center campus leased to AI giant Anthropic, is eyeing a roughly $15 billion bridge loan to finance its buildout, according to sources.
A group of banks is lining up the loan, which is expected to be taken out by bonds or loans in the fall, said one of the sources.
Headquartered in The Woodlands, Texas, Transition Equity Partners-backed Nexus Data Centers is a large-scale developer of hyperscale AI data center campuses that combines behind-the-meter power generation with integrated fiber and water infrastructure, according to its website.
The company is developing the AI campus in Hubbard, Texas, according to a Texas Department of Licensing and Regulation filing from June, with construction that was expected to start in January 2026 and be completed by October 2027. Another development for a second building at the Hubbard site was expected to start construction in June 2026 and be completed by January 2028, according to a filing later in June.
The campus would be leased to Anthropic, with Google reportedly providing construction financing for the multibillion-dollar project, according to a third-party report published in March. The first phase of the campus was expected to cost more than $5 billion and provide about 500 megawatts of capacity, with plans to eventually scale to as much as 7.7 gigawatts, the report added.
Transition Equity Partners made a strategic equity investment in Nexus in December 2025 to support the development of gigawatt-scale data center campuses across the country amid growing demand from hyperscale customers, according to a press release.
In addition, one Nexus Data Centers affiliate, Nexus Apex Holdings, has a senior secured loan held by Eagle Point Credit, priced at three-month SOFR+11%, according to a Securities and Exchange Commission filing as of Dec 31, 2025. Eagle Point also announced in March it had provided the second of in a series of senior secured credit financings to Nexus Apex Holdings.
The $15 billion bridge financing is the latest sign in a wave of debt deals supporting the massive capital investments in AI infrastructure. TeraWulf is expected to issue roughly $3.5 billion in debt for its Kentucky data center campus, according to a separate third-party report, while Riot Platforms is sounding out investors for a potential financing deal, as reported by Octus.
Elsewhere, Octus reported in June that Yondr Group was preparing a roughly $715 million high-yield bond offering with an expected high loan-to-cost ratio and no amortization. In the large cap market, AI infrastructure company Crusoe has signed up an approximately $5.5 billion Morgan Stanley-led RCF and bridge financing, with the bridge expected to be refinanced in the bond market, as reported by Octus.
Nexus Data Centers and Transition Equity Partners did not return requests for comment.
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