Google backs anthropic's massive $19 billion data center venture

TeraWulf has secured a significant credit support agreement with Google to back a substantial data center project in Kentucky, which is being leased by AI firm Anthropic. This project involves a long-term lease, potentially spanning up to 20 years, with an estimated total contract value of around $19 billion. Google's support includes provisions for risk hedging and rights protection. Should Anthropic default on rent or face bankruptcy, Google retains the option to either assume the lease directly or pay the termination fee to acquire equity in the project company. This guarantee is conditional, as it can be formally lifted once Anthropic or its affiliates achieve and maintain an investment-grade rating for three consecutive months. The planned campus is designed for high-scale computing, targeting a total capacity of approximately 401 megawatts (MW) to support frontier AI model training and inference. The initial infrastructure is scheduled to become operational in the latter half of 2027.