Anthropic pays Blackstone 10%+ yield to anchor $9B slice of $60B chip financing
2C_ornot2C · x · 2026-10-18
Per the FT, Anthropic is offering Blackstone a 10%+ yield to anchor the $9B junior piece of a $60B chip-financing package, with Broadcom arranging the deal and backing the $42B senior slice, plus up to $42B in convertible notes — all funding Anthropic's $125.2B five-year Google TPU lease. Analysis: 10% is the clearest look yet at Anthropic's cost of debt without Broadcom's backing (vs 5.75% in June's backed deal), far safer than CoreWeave's 16%+ bonds but nowhere near investment grade. The lease averages $25B/year against Anthropic's best-ever quarterly revenue.
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