Ten banks have agreed to extend $22 billion of loans to Crux AI, the cloud computing joint venture announced by Blackstone and Alphabet in May, Bloomberg reported.
The financing is earmarked for the purchase of Google’s custom Tensor Processing Unit (TPU) chips, which will power the venture’s artificial‑intelligence services.
Blackstone will contribute $5 billion of equity to the project and aims to have 500 megawatts of data‑center capacity operational by 2027, with additional expansion planned thereafter.
The loan comes as technology firms accelerate spending on data‑center infrastructure, power supply and specialised AI chips to meet surging demand for generative‑AI applications.
