Market Chatter: Anthropic Offers Blackstone High Yield in Chip Financing Deal

MT Newswires Live16:56

Anthropic has offered Blackstone (BX) a yield of more than 10% on its investment as part of a larger $60 billion debt package to finance the AI firm's latest chip deal, the Financial Times reported Saturday, citing people familiar with the matter.

Blackstone funds are expected to invest $9 billion in the debt backed by the Claude maker's five-year lease payments on the chips, making up roughly 50% of the junior loans, the unnamed sources told the publication. The AI firm offered Blackstone a 10% coupon and an even higher total return after accounting for new-issue discounts and other fees, according to the report.

The remaining $9 billion would be sold to a wider investor group in the months ahead, possibly with a lower yield, the FT reported.

The debt package, known as Project North Star, would help Anthropic secure about 1.5 gigawatts of custom semiconductors developed by Alphabet's (GOOG, GOOGL) Google unit.

Anthropic and Blackstone didn't immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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