According to CoinMeta, and as reported by the Financial Times, Anthropic is offering Blackstone Group a high yield of over 10% in order to raise funds to support its latest chip transaction. This debt financing deal, worth $60 billion, is known as the “Polaris Project” ( Project North Star ) and will help Anthropic purchase approximately 1.5 gigawatts of custom semiconductors developed by Google, also referred to as TPU. It is expected to become the largest chip financing deal to date and will also serve as a key test of investors' demand for debt related to artificial intelligence. Sources familiar with the matter revealed that Blackstone's funds will invest $9 billion in debt supported by future five-year chip lease payments from Anthropic, which accounts for about half of the total $18 billion in subordinated loans. Blackstone received a coupon rate of 10% on the debt; if the discount on the new debt issuance and other fees are taken into account, the total yield will be even higher. According to the Intercontinental Exchange’s Bank of America BB grade U.S. high-yield bond index, borrowers with similar credit profiles typically pay a yield of around 7% when financing in the public bond market.