Anthropic weighs pricier chip debt as Blackstone eyes 10% coupon

The AI lab is in advanced talks over a $60 billion financing package for Google TPUs, and the junior slice costs more than last time Anthropic is in advanced talks with Blackstone over a piece of a $60 billion debt package. The plan is called Project North Star, and it would bankroll a massive leasing deal for Google -built chips. The catch is the price tag. Blackstone-managed funds have been offered a 10% coupon on roughly $9 billion of junior debt. That is a noticeably steeper rate than Anthropic paid on a similar deal not long ago, which suggests lenders want more in return for funding the AI buildout. The financing is designed to support the acquisition of approximately 1.5 gigawatts of tensor processing units, or TPUs.

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