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      Crux AI Secures $22 Billion in Chip-Backed Loans from Consortium of Banks

      Crux AI, a joint venture in artificial intelligence cloud services launched by Blackstone and Alphabet, has secured a substantial $22 billion loan from a consortium of ten banks. This financing, reported by Dealroom.co and Bloomberg News, is specifically secured by chips and will be utilized to acquire Google-customized Tensor Processing Units (TPUs).

      The loan comes shortly after Crux AI officially commenced operations last week. Blackstone has also invested $5 billion in equity into the venture, while Google is set to provide the necessary TPUs, software, and services. The joint venture aims to produce its first batch of 500 megawatts by 2027, marking a significant step in the development of AI infrastructure.

      Among the lending institutions involved in this financing are notable banks such as Goldman Sachs, Sumitomo Mitsui Banking Corporation, Barclays, BNP Paribas, and the Canadian Imperial Bank of Commerce. This collaboration highlights the growing interest and investment in AI technologies and infrastructure on a global scale.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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