At a glance
- The lease has not been signed.
- Microsoft holds 1.35GW at the same campus, so a signed second Anthropic lease would take the two customers' commitments at Monarch beyond 2.2GW.
- At $45 billion for 460MW, the reported contract implies about $98 million per megawatt, but the lease term is not reported.
Anthropic is in talks for a second 460MW lease at Nscale's Monarch campus in West Virginia, a reported $45 billion contract that would double its committed capacity to 920MW. The lease has not been signed.
Microsoft holds 1.35GW at the same campus, so a signed second Anthropic lease would take the two customers' commitments at Monarch beyond 2.2GW.
At $45 billion for 460MW, the reported contract implies about $98 million per megawatt, but the lease term is not reported. That figure cannot be compared with other capacity deals.
The reported offtake at Monarch rests on two named counterparties, and Anthropic's second block is still under negotiation. Microsoft's 1.35GW is committed; Anthropic's 920MW is not.
Monarch campus capacity: committed vs. in talks
- Microsoft (committed)1.4K MW
- Anthropic (committed)460 MW
- Anthropic second lease (in talks)460 MW
Show as table
| Item | Value (MW) |
|---|---|
| Microsoft (committed) | 1.4K MW |
| Anthropic (committed) | 460 MW |
| Anthropic second lease (in talks) | 460 MW |
Reported by The Wrap desk from Daily Network reporting, Daily Network reporting and Daily Network reporting. Published . Updated Oct 28, 2026 · 2:57 p.m. ET. Corrections