- Crux AI, a joint venture between Google and Blackstone, secured $22B in bank loans.
- The loans fund purchases of Google's tensor processing units (TPUs).
- The financing expands AI cloud infrastructure buildout backed by major technology and asset-management firms.
Quotes
“The newly formed cloud company Crux AI, which is a joint venture between Google (GOOG)(GOOGL) and Blackstone (BX), has secured $22B in bank loans, according to Bloomberg.”