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Blackstone Group has told investors participating in Anthropic's $63 billion chip financing deal that it expects Anthropic to receive a credit rating in the higher tier of junk grade after its IPO, with the rating more likely to fall at BB or above, contrary to its earlier statement that it expected to obtain an investment-grade rating before the end of the year. Anthropic submitted its listing application on Monday and plans to go public next month; its prospectus proposes spending more than $800 billion on computing infrastructure by 2045. The company currently holds more than $112 billion in cash and cash equivalents, and investors expect the IPO could raise about another $100 billion.
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Oct 31
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East Money
Blackstone Expects Anthropic Unlikely to Obtain Investment-Grade Rating After Listing
Blackstone Group has told investors participating in Anthropic's $63 billion chip financing deal that it expects Anthropic to receive a credit rating in the higher tiers of junk grade after its IPO, contrary to its earlier statement that it expected an investment-grade rating by the end of the year. Anthropic filed for listing on Monday and plans to go public next month; its prospectus proposes spending more than $800 billion on computing infrastructure by 2045. The company currently holds more than $112 billion in cash and cash equivalents, and investors expect the IPO could raise about another $100 billion.
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Yicai
AI stocks sold off again: Intel plunges 28.59%, Nvidia falls 4.22%, Nasdaq drops 2.86%
On October 30, US AI concept stocks were sold off again, with the Nasdaq falling 2.86%, its worst single-day performance since June, and the Philadelphia Semiconductor Index dropping 7.20%. Intel plunged 28.59% on weak guidance, Nvidia fell 4.22%, AMD dropped 10.88%, and CoreWeave's bond yields climbed while its stock fell 37% cumulatively in October. Capital shifted toward defensive sectors such as consumer staples and healthcare, with Walmart rising 1.86%.
TechCrunch AI
Report: Anthropic Expected to Receive High-Yield Junk Credit Rating After IPO
According to a Financial Times report, Blackstone told investors participating in the $63 billion Anthropic chip financing deal that it expects Anthropic to receive a "high" junk credit rating after its IPO, specifically in the BB range. Blackstone had previously said Anthropic would obtain an investment-grade rating by 2027. Anthropic formally submitted its listing application this week; TechCrunch contacted Anthropic and Blackstone about this, and both declined to comment.
Sina Tech
Blackstone: Anthropic May Not Immediately Obtain an Investment-Grade Rating After Going Public
Blackstone Group told investors participating in Anthropic's latest chip financing deal that it expects Anthropic to receive a "higher" tier junk rating from major credit rating agencies after going public, with the rating more likely to fall at BB or above. Blackstone had previously expected Anthropic to obtain an investment-grade rating before the end of the year.
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