Google (GOOGL) and Microsoft (MSFT) were in talks for Nscale compute deal that went to Anthropic, Semafor reports, citing sources

Reports of contested AI compute capacity fit an established pattern in which a small set of hyperscalers and frontier model developers compete for the same limited pool of GPU hosting and data centre supply, and losing bidders on one deal tend to reappear on the next. The informative distinction in these stories is between outright capacity scarcity and counterparty preference: Anthropic securing the deal over larger balance sheets suggests compute providers are now selecting partners on strategic terms, equity or revenue-sharing structures, rather than simply on price. Semafor sourcing of this kind is typically leak-driven, and such leaks have historically surfaced around live negotiations where one side benefits from the disclosure, so the report itself is a signal about the state of talks rather than a settled outcome. For the named equities, single compute contracts have rarely been thesis-moving; what has mattered in comparable episodes is the cumulative read on capex direction, cloud capacity commentary, and the evolving relationships between hyperscalers and model developers. The follow-ons worth noting are any confirmation or denial from the parties, subsequent capacity awards from the same provider, and how the reported pursuit feeds into capex guidance language at the next round of earnings calls.