Key facts
- Ten banks are providing a $22 billion loan to support Crux AI, a new cloud venture by Blackstone and Alphabet.
- The loan is intended to finance chip acquisitions for the venture.
- Bloomberg News reported the loan details, citing people with knowledge of the matter.
A group of 10 banks is providing a $22 billion loan to support Crux AI, a new cloud venture formed by Blackstone and Alphabet, according to a Bloomberg News report citing people familiar with the matter. The financing is intended to facilitate the acquisition of chips for the venture's operations.