[Anthropic Reportedly Offers Over 10% Yield to Blackstone for $60 Billion Chip Financing] Beating AI News Flash: Anthropic is offering Blackstone Group a high yield exceeding 10% to raise funds for its latest chip deal. This $60 billion debt financing plan, dubbed 'Project North Star,' will help Anthropic procure approximately 1.5 gigawatts of custom semiconductors developed by Google, known as TPUs. It is expected to become the largest chip financing deal to date and a critical test of investor demand for AI-related debt. Sources reveal that Blackstone's funds will invest $9 billion to purchase debt backed by Anthropic's chip leasing payments over the next five years, accounting for half of the total $18 billion in subordinated loans. Blackstone has been quoted a coupon rate of 10%, and when factoring in discounts on new debt issuance and other fees, the total yield will be even higher. According to the ICE Bank of America BB U.S. High Yield Bond Index, borrowers with similar credit profiles typically pay around 7% yield in the public bond market. [Original Link]