Alphabet-Led Venture Secures $22B Bank-Led Loan for TPU-Powered AI Cloud
A $22 billion loan package for Crux AI, an artificial intelligence cloud venture between Blackstone Inc. and Alphabet Inc., has been agreed upon by a group of ten global lenders.
The financing will support the purchase of Google-designed Tensor Processing Units (TPUs) for Crux AI's high-performance computing capacity, which is expected to reach 500 megawatts by 2027.
The loan structure ties repayment directly to Crux AI's ability to keep clients under long-term agreements, with both the hardware and customer contracts serving as collateral.