Anthropic and Nscale are reportedly in late-stage discussions for a second $45 billion agreement to secure artificial intelligence computing resources, according to individuals familiar with the negotiations. The potential deal, which could involve additional infrastructure commitments beyond the initial arrangement, follows a similar $45 billion partnership announced in September 2026. Neither company has confirmed the specifics of the current talks, and sources indicated that final terms remain subject to change. The development comes as both firms pursue public listings, with Anthropic targeting a 2026 initial public offering and Nscale aiming to complete its own offering later this year despite reported investor concerns over its $30 billion valuation. The growing scale of AI infrastructure investments has drawn scrutiny from some market participants who question the pace of capital deployment relative to emerging revenue models, though both companies continue to emphasize long-term strategic positioning within the sector.