IT之家 · 智能时代 · 10/19/2026, 07:39:06

Anthropic Pays Over 10% Interest for AI Chip Financing as Costs Surge

By IT之家Original title: 海外 AI 基建烧钱融资溢价飙升,Anthropic 借钱买芯片利息超 10%
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Executive Summary

Anthropic is securing $60 billion in debt financing for chip purchases at yields exceeding 10%, a significant increase from the 8.5% seen four months ago. This premium reflects growing investor risk aversion toward massive AI infrastructure spending and highlights the acute capital pressure on tech firms. Concurrently, Anthropic plans a major IPO under a Public Benefit Corporation structure, allocating ~20% of shares to public purposes.

SOURCE COVERAGEFull Original Report

On October 19, citing a Financial Times report from October 16 via CCTV Finance, US AI firm Anthropic is attracting Blackstone to finance its chip deals with yields exceeding 10%.

Overseas AI infrastructure financing premiums surge as Anthropic pays over 10% interest on chip loans

The 60billiondebtfinancing(approximatelyRMB402.175billionatcurrentexchangerates,perITHome’snote)isdividedintotwoparts:∗∗first,approximately60 billion debt financing (approximately RMB 402.175 billion at current exchange rates, per IT Home’s note) is divided into two parts: **first, approximately 42 billion in senior debt** (roughly RMB 281.522 billion), guaranteed by semiconductor giant Broadcom. Bank of America, Citigroup, and Morgan Stanley have already initiated syndication. Second, $18 billion in subordinated debt (approximately RMB 120.652 billion).

Sources indicate that Blackstone funds will invest 9billion(aboutRMB60.326billion)topurchasethesubordinateddebtata109 billion (about RMB 60.326 billion) to purchase the subordinated debt at a 10% coupon rate. The total return is higher when accounting for new-issue discounts and other fees. The remaining 9 billion in subordinated debt is expected to be distributed with Blackstone’s assistance over the coming months, though likely at lower yields.

The report notes that just four months ago, Anthropic issued approximately $4.4 billion (around RMB 29.493 billion) in debt in a similar transaction at an 8.5% yield. The rise in borrowing costs reflects investors demanding higher risk premiums when financing AI infrastructure, highlighting the pressure exerted by tech companies’ massive short-term capital needs.

IT Home observed that Anthropic is planning one of the largest IPOs in history. The company intends to list under a Public Benefit Corporation (PBC) legal structure, which requires management to pursue commercial returns for investors while also considering broader public interests.

Positioning itself as a safety-first company, Anthropic frequently emphasizes risks associated with its AI models. Most recently, in its IPO prospectus, it stated that these models might exhibit "self-preservation behavior." Including this newly established fund, Anthropic will dedicate approximately 20% of its equity to public purposes, excluding any additional shares potentially allocated upon reaching future valuation milestones.

Overseas AI infrastructure financing premiums surge as Anthropic pays over 10% interest on chip loans