Blackstone Inc. has begun preliminary discussions with investors to lead a debt financing package of at least $36 billion, specifically earmarked to cover Anthropic's AI chip rental costs from Google, according to sources familiar with the matter at Bloomberg. If finalized, this financing would surpass the $35 billion debt package jointly arranged by Apollo Global Management and Blackstone approximately two months ago, which was already one of the largest private credit deals in history. Google, an early investor in Anthropic, is now creating a circular funding structure by endorsing its chip rental agreement. Furthermore, Anthropic's hashrate expansion extends beyond Google; it has also signed a $10 billion hashrate agreement with chip hashrate companies Bitdeer and Volta Infra. These financing activities follow Anthropic's confidential submission of US IPO documents and are likely aimed at strengthening its pre-IPO balance sheet and hashrate reserves.