Blackstone is in early discussions with investors about assembling a second large debt financing package to bankroll Anthropic’s use of Google’s custom chips. The deal, if it materializes, would follow a first package of roughly $35-36 billion that closed just months ago.
What we know so far
Bloomberg reported on August 4 that Blackstone has begun sounding out investors on the second tranche of financing. The structure mirrors the first deal: a special purpose vehicle, or SPV, purchases Google’s Tensor Processing Units and then leases them to Anthropic.
The first package was a joint effort between Blackstone and Apollo Global Management. That deal closed around late May to early June 2026 and came in at approximately $35-36 billion. A portion of that initial debt was expected to hit the secondary market by July 2026. The proposed second package is reportedly expected to be similarly sized, with figures of at least $36 billion being discussed. It remains in the preliminary stage, so final terms, investor commitments, and timing are still very much in flux.
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