Data-center developer Nexus Data Centers is in advanced talks to raise $15 billion for a Texas campus tied to Anthropic, with Alphabet’s Google offering financial guarantees and supplying chips, according to the Wall Street Journal, citing people familiar with the matter. The project is located in Hubbard, Texas. A bank group led by Morgan Stanley is discussing financing for the project, which includes a natural-gas-fired power plant capable of producing 1.6 gigawatts of electricity. The financing package includes a $14 billion bridge loan and a revolving credit facility, according to the report. Google has agreed to guarantee billions of dollars of Anthropic’s lease and power-payment commitments in the event the startup defaults. The tech giant’s backing was limited to the minimum level lenders required to complete the financing. The guarantees cover four data-center leases signed by Anthropic and related power-purchase agreements for electricity from the on-site plant. In return for its support, Google is expected to receive an equity stake of about 20% in the data-center and power project. Morgan Stanley is separately confirmed as the lead banker on the discussions, with Google agreeing to backstop Anthropic using its investment-grade credit rating. Google, Anthropic, and Nexus Data Centers have declined to comment on the report.