Anthropic: May Issue Convertible Promissory Notes Totaling Up to $42 Billion

On October 26, Anthropic stated it may issue convertible promissory notes totaling up to $42 billion. Earlier, Anthropic warned that it might need to seek additional financing sooner than currently anticipated.

The company expects to pay Google up to approximately $114.5 billion by 2033, and under a leasing arrangement with Broadcom, pay approximately $161.2 billion in rent (excluding interest) over the lease term. Anthropic said computing and infrastructure costs are expected to continue increasing in absolute terms and become the company's largest operating expense in the foreseeable future. The company believes its existing available cash and cash equivalents are sufficient to meet working capital and other needs for at least the next 12 months.

[BlockBeats]