Large language model developer Anthropic PBC has secured $2.5 billion in debt financing, CNBC reported today.
The loan is structured as a revolving credit facility. Standard debt financing deals require the borrower to pay back the funds in a fixed number of installments. A revolving credit facility, in contrast, has no such requirement. Additionally, the borrower can draw down funds again after repaying the loan.
Anthropic’s revolving credit facility will run for five years. It’s underwritten by Morgan Stanley, Barclay, Citibank, Goldman Sachs, JPMorgan, Royal Bank of Canada and Mitsubishi UFJ Financial Group. Several of those banks also backed a $4 billion revolving credit facility that OpenAI, Anthropic’s top rival, raised last year.
“This revolving credit facility provides Anthropic significant flexibility to support our continued exponential growth,” said…
