Anthropic's $60B Project North Star: Blackstone anchor at 10%+ yield on $9B junior debt
shashib · x · 2026-10-18
Citing FT sources, Anthropic is lining up a $60B chip financing (Project North Star): Blackstone-managed funds would anchor $9B of an $18B junior tranche at 10%+ yield, with $42B of senior debt backed by Broadcom. The proceeds fund 1.5GW of Google TPUs leased for five years.
- Follows June's $4.4B Apollo-led financing at 8.5%
- Similarly rated issuers pay 7%; the 10%+ reflects junior-tranche risk premium
- Deal has not closed
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