Blackstone reportedly mulls second debt package for Anthropic chip deal

Investing.com -- Blackstone Inc. has begun early talks with investors about a second large debt package to finance Anthropic PBC's use of chips from Alphabet Inc.'s Google, Bloomberg reported Tuesday.

An initial proposal discussed was for at least $36 billion of debt. The details, including the size, structure and whether Blackstone will lead the financing, remain under discussion and may change.

If completed at that size, the deal would surpass the $35 billion debt package arranged by Apollo Global Management Inc. and Blackstone roughly two months ago to fund Anthropic's lease of Google's custom chips. That package was among the largest private credit transactions in history.

Google was one of Anthropic's early investors and has repeatedly purchased equity in the company. The tech giant now increasingly supports the financing that backs data centers for the startup.

The potential new financing round follows Anthropic's confidential US IPO filing as it seeks to reach public markets before rival OpenAI. The Claude creator plans to lease computer chips at five data centers with support from Google as part of the earlier debt deal.

Tech companies have turned to various credit markets to meet capital demands for AI infrastructure. Wall Street has created new debt structures to accommodate these needs. Some companies have recently paid high yields on new borrowings amid concerns about returns on AI investments.

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