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Blackstone expects Anthropic to receive a speculative-grade rating after listing, exceeding 800000000000 USD AI its computing power plan faces financing pressure
BlockBeats reports that October 31, citing sources familiar with the matter as reported by the UK Financial Times, Blackstone recently told investors in Anthropic a 63000000000 USD chip financing transaction that Anthropic may not immediately receive an investment-grade rating after listing, and that major rating agencies are more likely to assign it a rating in the BB range, namely speculative grade (commonly known as “junk grade”).
Under S&P’s and Fitch’s rating systems,BBB- or above is investment grade, while BB+ or below is speculative grade. If Anthropic ultimately receives a junk-grade rating, its financing costs may rise, while the pool of funds available from institutions such as insurers and pension funds, which are subject to investment-grade investment restrictions, would also narrow.
The financing pressure mainly comes from Anthropic’s substantial computing power spending plan. The company previously disclosed that it plans to invest more than 2045 in computing infrastructure by 800000000000 USD. Although Anthropic currently holds more than 112000000000 USD in cash and cash equivalents and plans to raise additional financing through IPO, its long-term computing power commitments continue to raise investor concerns about its future funding needs and debt capacity.
After the report was published, U.S. technology stocks fell further, and the Nasdaq 100 Index ultimately closed down 3.5%. However,Anthropic has not yet received a formal credit rating from S&P, Moody’s, or Fitch, and Blackstone’s assessment is not a formal rating result.
Original link https://m.theblockbeats.info/flash/374785