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Crux AI secured $22 billion in chip mortgage loans from 10 banks

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According to Dealroom.co citing Bloomberg News, a consortium of 10 banks has provided Crux AI with a $22 billion loan secured by chips. Crux AI is the AI cloud service joint venture launched by Blackstone and Alphabet in May, which officially started last week.The loan will be used to purchase Google-customized TPUs. Crux AI has received a $5 billion equity investment from Blackstone, with Google providing TPUs, software, and services, planning to produce the first batch of 500 megawatts by 2027. Named lending institutions include Goldman Sachs, Sumitomo Mitsui Banking Corporation, Barclays, BNP Paribas, and Canadian Imperial Bank of Commerce.

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.