Anthropic reportedly nears a second $45 billion compute contract with Nscale

The August agreement between the two companies was also valued at $45 billion. People familiar with the matter told Bloomberg that a new contract of the same size is close, though talks are ongoing and the details could shift. Neither company had commented in the TechCrunch report. Anthropic has signed a string of very large compute agreements over the past year, and the reported deal would extend that pattern. Nscale is also seeking a public listing, and Bloomberg reported that investors have pushed back on its proposed $30 billion valuation. For founders, the signal is that frontier labs are locking up multi-year GPU capacity from specialist cloud providers at enormous scale. Access to compute is now shaping who can train and serve models, so teams should plan capacity commitments and supplier concentration risk early, even when they are much smaller.