Anthropic Expected to Get High 'Junk' Credit Rating After IPO
Investment firm Blackstone has told investors that AI company Anthropic is likely to receive a speculative-grade credit rating after its IPO. It had earlier said the rating would be investment grade.
Blackstone, the US investment firm and anchor investor in a $63 billion deal to finance chip purchases for Anthropic, expects the artificial intelligence company to receive a high "junk" rating from credit rating agencies after its initial public offering (IPO). The Financial Times reported the forecast, and TechCrunch relayed it. Anthropic develops the Claude AI models.
A reversal of earlier guidance
According to the report, Blackstone passed its view to investors in the deal. It anticipates a rating in the double-B range, the top tier of speculative, or "junk," grade. Blackstone had previously said the opposite: that Anthropic would reach an investment-grade rating, which signals low risk for lenders, before 2027.
Why it matters
Blackstone's forecast is only a prediction. Still, a high junk rating would make it harder and more expensive for Anthropic to raise the money needed to keep funding its heavy spending. Over the past 12 months the company has signed a series of large computing-power deals, which has worried investors.
Anthropic formally filed to go public earlier this week, prompting speculation about how such a large IPO would affect the wider AI industry.
TechCrunch contacted Anthropic and Blackstone for comment, but both declined.
