Anthropic and AI infrastructure provider Nscale are in talks over a second $45 billion compute deal, Bloomberg reported on October 19, 2026, citing people familiar with the matter. The sources cautioned that talks are still underway and details could change.
The discussions come a little over a month after the two companies announced their first $45 billion compute agreement. If completed, the new deal would extend a string of large compute partnerships Anthropic has struck over the past year.
The scale of spending on AI compute has worried some investors, who question whether the outlays will generate matching profits. Anthropic has continued to pursue such deals regardless.
Both companies are pursuing public listings. Anthropic is still expected to go public this year, while Nscale is seeking an IPO at a proposed $30 billion valuation that has met investor pushback, Bloomberg reported separately on Monday.
This brief is based on Bloomberg's reporting of ongoing talks; neither Anthropic nor Nscale has announced a second deal, and the reported terms could change or the talks could end without an agreement.