The Financial Times reported a June BB+ rating for Anthropic, one notch below investment grade, as Bloomberg reported banks were arranging a $60 billion chip-financing effort for Anthropic and other companies.
Documents reviewed by the Financial Times show Kroll Bond Rating Agency assigned the rating in June 2026; the paper said it had not been reported before. KBRA's scale places BB in speculative grade, describing it as low quality with moderate credit-loss risk. Plus and minus signs distinguish relative risk within that grade.
Anthropic supplied revenue and adjusted operating income data, along with annualized run-rate revenue for the first quarter of 2026 and an internal forecast for the second quarter, the Financial Times reported. The company did not provide free cash flow or EBITDA. KBRA estimated those measures and relied on a risk score instead of a full financial model, according to the paper.
Bloomberg reported Oct. 2 that banks were assembling the financing for Anthropic and other companies. It described $42 billion in senior-secured debt with Broadcom residual-value support and an $18 billion junior tranche led by Blackstone. Blackstone planned to commit $9 billion from its funds and syndicate the rest. Bloomberg said Broadcom's support covered the senior debt, leaving junior lenders more directly exposed to Anthropic's credit risk. The Financial Times reported Oct. 5 that syndication had begun for financing tied to Anthropic's lease of Google semiconductors.
The reported financing effort follows a $35 billion initial transaction announced in June by Broadcom, Apollo and Blackstone. The plan was intended to support more than one gigawatt of Anthropic computing capacity at Fluidstack sites, with deployment expected to start in mid-2026. Broadcom said the platform would help meet demand for its AI chips and infrastructure.
Anthropic said its agreement with Google and Broadcom covers multiple gigawatts of next-generation TPU capacity expected to come online starting in 2027, supporting Claude and customer demand. The company reported run-rate revenue above $30 billion, up from about $9 billion at the end of 2025, and more than 1,000 business customers with annualized spending above $1 million each.
The Financial Times reported that Moody's, S&P Global Ratings and Fitch Ratings would determine Anthropic's credit status after an IPO. The paper did not report a date for the listing or a later rating decision.
