Blackstone is in preliminary discussions with investors to assemble a second debt financing package of at least 36 billion dollars to cover Anthropic’s use of Google’s Tensor Processing Units. This second package would follow a first arrangement of 35 to 36 billion dollars finalized between May and June 2026, involving Blackstone and Apollo Global Management. The structure relies on a specialized vehicle that purchases Google’s chips and leases them to Anthropic, thereby isolating investors from the company’s corporate risk. The combined two packages would reach approximately 72 billion dollars, representing a significant portion of the US leveraged loan market which issues roughly 1.4 trillion dollars annually.
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