**Anthropic Pays Up for AI Financing**

**Anthropic** is offering Blackstone a yield of **over 10%** to finance its latest **$60 billion AI chip deal**. That is above the roughly **7%** rate paid by borrowers with a similar credit profile in public bond markets.

**Blackstone** would invest **$9 billion** in junior debt backed by Anthropic’s **five-year lease payments** for Google’s custom AI chips.

The yield is also up from **8.5%** four months ago, when Anthropic sold **$4.4 billion** of similar debt.

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