Blackstone Sees Anthropic Likely Below Investment Grade After IPO

Blackstone told investors Anthropic may not secure an investment-grade credit rating right after a listing, with a “BB” range more likely—after earlier expecting investment grade by year-end. Anthropic is advancing a ~$63B chip-financing package, including ~$18B of lease-backed subordinated debt. Missing IG status could narrow funding channels and raise borrowing costs. Related: Gemini 4 Carbon; more on AI Investment.