Blackstone Inc. explores a potential $36 billion private debt package to fund Anthropic PBC's procurement of Google processing chips.
Blackstone Inc. has initiated preliminary talks with institutional investors to secure a second major debt financing package totaling at least $36 billion. This capital will be used by Anthropic PBC to finance the procurement of Alphabet Inc. Google processing chips, potentially surpassing the previous $35-billion credit deal arranged by Blackstone and Apollo Global Management Inc. two months ago. The massive capital request comes as Anthropic PBC prepares for a U.S. initial public offering. By securing this debt, the startup can aggressively scale its computational capacity without dilriting equity before its public debut. Google, an early venture investor in Anthropic PBC, is providing financial guarantees and equity backing to de-risk the large-scale credit packages. This arrangement highlights the growing role of private credit in funding high-stakes technology hardware as companies compete for market dominance in the AI space.