Eagle Point Backs $1.3B Loan for Anthropic-Anchored Texas Data Center

Eagle Point Credit Management is backing a $1.3 billion private credit loan for a major artificial intelligence data center in Texas linked to Anthropic.

The funds will be used to complete the construction of a 2,900-acre data center in Hubbard, Texas, and are part of a $16 billion project for Nexus Data Centers, Bloomberg reported, citing sources familiar with the deal.

Banks, including Morgan Stanley, are leading the larger package. The $1.3 billion piece is structured as mezzanine debt, sitting below the safest parts of the financing, and recently closed. The site, Nexus’ first campus, is expected to include its own natural-gas fired power plant, and Anthropic is slated to serve as the facility’s main tenant.

Eagle Point started arranging financing for Nexus around September 2025, initially targeting $150 million in senior secured debt backed by land the data center had purchased in Hubbard, sources noted. The two firms expanded the financing several times in the months that followed ultimately bringing it into its current size structure.

The financing accelerated after Anthropic was chosen as the facility’s primary tenant through a competitive bidding process, and Alphabet Inc.-owned (NASDAQ:GOOGL) Google agreed to guarantee the senior debt. Google has backstopped debt at other data center projects, a structure that reassures lenders while concentrating risk. Nexus may issue high-yield bonds later this year to refinance the $15 billion bank-led portion, a step that would require it to obtain a credit rating.

Google has provided similar guarantees at data centers across the United States. In December, energy infrastructure platform Hut 8 Corp. (NASDAQ:HUT) provided counterparty financial support, covering the lease payments and related pass-through obligations, according to a press release.

Google also provided a $3.2 billion lease backstop tied to TeraWulf’s AI data center buildout.

Eagle Point was founded in 2012 by Thomas Majewski and Stone Point Capital and has approximately $14 billion in assets under management. 

Earlier this week, it was reported that Anthropic’s revolving credit facility is set to exceed its approximately $10 billion target, as the artificial intelligence company lays the groundwork for its highly anticipated initial public offering.

The potential expansion has banks looking to secure a role in the credit facility and potentially strengthen their chances of winning an underwriting mandate for the Claude chatbot maker’s IPO.

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