Nscale and Anthropic are reportedly in talks for yet another $45B compute deal

Why it matters

Anthropic and Nscale, which announced a large compute agreement roughly a month ago, are reportedly in talks for a second deal of similar scale, according to Bloomberg's sources, who cautioned that negotiations remain ongoing and terms could shift. The report fits a broader pattern of Anthropic securing major compute partnerships over the past year. The context matters for several reasons: both companies are pursuing public listings, with Anthropic still expected to go public this year, while Nscale faces investor resistance to its proposed valuation, as Bloomberg reported. The news also lands amid unease among some investors, who worry that heavy spending on AI compute is outpacing profits. Anthropic, however, has continued pursuing such partnerships on the belief that the investment will eventually pay off. TechCrunch contacted both companies for comment and said it would update its story upon hearing back. For readers, the story illustrates the tension between aggressive infrastructure spending and investor skepticism about returns.