Anthropic offers Blackstone a yield above 10% on $60 billion chip debt
First seen on X 40 hours ago@edzitron ♥ 1,1223 views
Anthropic is offering private-equity firm Blackstone a yield of more than 10% as it raises about $60 billion in debt to rent Google's tensor processing units (TPUs).
Reuters, citing the Financial Times, reported on Oct. 16 that Blackstone funds would invest $9 billion in debt backed by Anthropic's five-year lease payments on the chips. The financing, reportedly dubbed North Star, would secure roughly 1.5 gigawatts of Google TPUs.
Kalshi Finance's post on the deal drew 750 likes, with replies like "Sounds like someone is desperate for capital!" Critic Ed Zitron wrote that Blackstone was "losing every dollar on this deal," faulting a company that has yet to go public for taking on billions more in debt at 10%.
“Blackstone losing every dollar on this deal - a negative EBITDA company with $413bn in non-cancellable contracts that has yet to go public taking on - on top of $4.4bn o…”
