AI Tech / news
Anthropic Seen Landing High Junk Rating After IPO, Blackstone Forecast Says
Blackstone, the anchor investor in a $63 billion financing deal for Anthropic's chips, now expects the AI lab to carry a high speculative-grade credit rating after it lists. That would make borrowing costlier as the Claude maker funds heavy compute spending.
Blackstone has told investors in the $63 billion chip-financing package that it anticipates a double-B range rating for Anthropic once the company completes its initial public offering, according to the forecast. That bracket sits at the top tier of speculative, or "junk," grade, signaling elevated risk for lenders.
The projection marks a reversal. Blackstone had previously told deal participants it expected Anthropic to secure an investment-grade rating, which denotes lower risk, before 2027.
The forecast follows Anthropic's filing this week to go public, a step that set off speculation about how the listing could affect the wider AI industry.
Anthropic and Blackstone both declined to comment on the reported forecast.
The rating outlook matters because a high junk grade would make it harder and more expensive for Anthropic to raise capital. The lab has spent heavily over the past 12 months, signing large compute power agreements, a pace of spending that has drawn investor concern.