“Some Were Getting Cold Feet”: Hock Tan Pays Up, Guarantees The Loss To Get Anthropic’s $63 Billion Chip Deal Done
This article is paywalled – but the headlines give enough info to sense this AI problem.
Banks wanted out, so Hock Tan paid them more and promised to cover the losses. That is how Anthropic’s chips get financed: roughly $43.5 billion of the $63 billion guaranteed by the company selling them.