Blackstone leads at least $36 billion debt financing for Anthropic to pay Google chip rentals
On August 4, Bloomberg reported Blackstone is in early talks to lead at least $36 billion in debt financing for Anthropic to fund Google AI chip rentals, exceeding last month's $35 billion package.
On August 4, Bloomberg reported that Blackstone has begun initial outreach to investors to lead a debt financing of at least $36 billion earmarked for Anthropic to pay Google for AI chip rentals. If finalized, the package would surpass the $35 billion debt financing arranged jointly by Apollo Global Management and Blackstone about two months earlier, which was already one of the largest private credit deals in history.
The new round extends the circular transaction system between Anthropic and Google. Google is one of Anthropic's early investors, has repeatedly subscribed to its equity, and increasingly backs financings that fund the startup's data center operations. In the prior $35 billion debt package, Anthropic plans to lease Google's custom chips across five data centers, with Google guaranteeing the most senior tranche.
Broadcom is another core participant in this financing structure. Earlier this year, Broadcom, Apollo and Blackstone jointly established the AI XPV Platform to provide compute infrastructure financing for leading AI companies including Anthropic. Broadcom guaranteed the most senior tranche of the $35 billion deal, with Morgan Stanley acting as advisor.