Blackstone told investors Anthropic may get high junk rating after IPO, FT reports
According to Financial Times reporting cited by TechCrunch, Blackstone told investors in a sixty-three billion dollar deal to finance Anthropic chips that it now expects a high junk credit rating after the lab's IPO, specifically double-B range at the top of speculative grade. That reverses Blackstone's earlier signal that Anthropic could reach investment-grade status before twenty twenty-seven. Blackstone anchors that financing amid Anthropic's heavy compute spending over the past twelve months. Both companies declined comment when TechCrunch reached out. The forecast remains a prediction, not a rating agency decision, yet junk status would raise borrowing costs for funding large infrastructure bets that already concern investors.
Blackstone told investors Anthropic may get high junk rating after IPO, FT reports
TechCrunch cites Financial Times reporting that Blackstone, anchor in a recent $63 billion deal to finance Anthropic chips, told investors it expects a high junk rating after the IPO. The same reporting says Blackstone now expects double B range, top tier of speculative junk grade, after earlier signaling investment-grade was possible before 2027.
Key takeaway
Anchor lender expectations for Anthropic have turned more pessimistic on post-IPO credit quality, underscoring financing risk for compute-heavy AI labs.
What happened
TechCrunch reports, citing the Financial Times, that Blackstone told investors in a recent sixty-three billion dollar chip-financing deal for Anthropic that it expects the AI lab to receive a high junk rating after its IPO rather than investment-grade credit before twenty twenty-seven.
The same reporting says Blackstone now expects a double-B range rating, the top tier of speculative junk grade, after previously signaling investment-grade status was possible; TechCrunch says Anthropic and Blackstone both declined to comment on the story.
Evidence
Blackstone told deal investors it expects Anthropic to get a high junk rating after IPO
TechCrunch AI · attributed
The FT says the investment giant Blackstone, the investment giant and anchor investor in a recent $63 billion deal to finance Anthropic's chips, told investors in the deal that it expects the AI lab to receive a "high" junk rating after its IPO.
Blackstone now expects double-B range instead of prior investment-grade outlook before 2027
TechCrunch AI · attributed
Now, Blackstone expects double B range rating, the top tier of speculative "junk" grade, according to the reporting.
Anthropic and Blackstone declined to comment when contacted
TechCrunch AI · attributed
TechCrunch reached out to Anthropic and Blackstone but both declined to comment.
Blackstone's forecast is a prediction, not a finalized agency rating
TechCrunch AI · attributed
Blackstone's forecast is just a prediction, but naturally, a high junk rating would make it more difficult and costlier for Anthropic to raise the money to keep funding its massive spending
Why it matters
If junk-grade debt pricing sticks, Anthropic may face higher costs to fund the large compute commitments that underpin its business model after going public.
Limits and uncertainties
Reporting describes Blackstone's forecast as a prediction and does not establish an actual credit rating, IPO timing, or full financing terms.
Anthropic and Blackstone declined to comment, and the packet does not include confirmation from rating agencies.
Practical implications
Teams dependent on Anthropic capacity should weigh counterparty credit and funding durability alongside model performance, given reported lender skepticism on post-IPO debt costs.
Investors and operators should separate anchor-investor outlook from official agency actions until ratings and IPO details are confirmed.
What to watch
Whether credit rating agencies assign grades after Anthropic's IPO and how they compare to Blackstone's double-B expectation.
Any public comment from Anthropic or Blackstone that confirms, revises, or rejects the reported investor guidance.
