Anthropic Offers Blackstone 10%+ High Interest: $60 Billion Chip Debt Reveals Pre-IPO Compute Gamble
Anthropic is offering Blackstone a yield above 10% to subscribe to $9 billion of the subordinated tranche of a $60 billion chip-specific debt codenamed "Project North Star," funding the purchase of roughly 1.5 gigawatts of Google TPUs through a special purpose vehicle.