TLDR
- Eagle Point Credit Management is providing a $1.3 billion private credit loan for a Texas AI data center tied to Anthropic
- The loan is part of a larger $16 billion project-finance package for developer Nexus Data Centers
- The campus is a 2,900-acre facility in Hubbard, Texas, about 70 miles south of Dallas
- Google agreed to guarantee the senior debt, making the deal easier to arrange
- Morgan Stanley is leading the broader financing package alongside other banks
Eagle Point Credit Management is providing a $1.3 billion private credit loan for an AI data center in Hubbard, Texas. The facility is being developed by Nexus Data Centers and will have Anthropic as its primary tenant.
JUST IN: 🇺🇸 Banks are in talks to lend $15 billion to build an Anthropic AI data center in Texas, backed by financial guarantees from Google.
A consortium led by Morgan Stanley would finance a 1.6-gigawatt campus in Hubbard, Texas, complete with its own natural gas power plant.… pic.twitter.com/evxIcO9gc9
— CryptoTweets (@CryptoTweets) July 30, 2026
The loan is part of a much larger $16 billion project-finance package. Nexus will use the funds to complete construction of a 2,900-acre campus that will include its own gas-fired power plant.
Eagle Point is the single largest investor in the loan. The debt is structured as mezzanine financing, which sits below the safer senior portions of the overall deal.
The Greenwich, Connecticut-based firm was founded in 2012 by Thomas Majewski and Stone Point Capital. It manages around $14 billion in assets.
Eagle Point first began working on a loan for Nexus in September 2025. At that point, the firm was looking at roughly $150 million in senior secured financing backed by land Nexus had acquired in Hubbard.
How the Deal Grew
Over the following months, the size and structure of the financing increased several times. The mezzanine portion of the deal recently closed, according to a statement seen by Bloomberg.
The deal became easier to put together after two key developments. Anthropic won a competitive process to become the primary tenant, and Google agreed to guarantee the senior debt.
Google has backstopped debt payments at several data centers across the United States. This kind of guarantee can make investors more comfortable committing large sums, though it also concentrates financial risk.
Morgan Stanley is leading the broader bank-led financing package. Earlier in August, reports indicated a consortium of banks was preparing to offload around $15 billion of debt tied to the same Google-backed facility.
What Comes Next
The Hubbard campus is the first project Nexus has sought to develop. It will be among the largest data center campuses being built across the country to meet rising demand from AI companies.
Data center developers typically repay construction debt by issuing new debt once projects are complete. One possibility is that Nexus will seek to issue high-yield bonds later this year to help refinance the bank-led portion of the financing.
That process would require Nexus to obtain a credit rating. No timeline has been confirmed publicly.
Anthropic’s annualized revenue has topped $65 billion ahead of a potential IPO. The company did not respond to requests for comment outside of normal business hours.
A representative for Nexus also declined to comment. Eagle Point has not made a public statement beyond the deal closing notice.
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