Blackstone’s Khaira says AI-buildout debt fears are overblown
Original title: Blackstone’s Jas Khaira says fears over AI-buildout debt are overblown
He points to hyperscaler-backed data-center loans, CoreWeave debt near $50 billion, and wider credit spreads after September.
Blackstone’s Jas Khaira told TechCrunch Disrupt that debt financing the AI buildout is mostly backed by hyperscalers, not shaky banks, and is unlikely to cause a 2008-style credit crisis. He said Blackstone is the largest compute owner outside hyperscalers and described GPU-collateral loans that began with a $2.3 billion CoreWeave facility in 2023. He also cited a $5 billion commitment to Crux AI, a co-led $10 billion Firmus credit facility, and a $1.5 billion Anthropic joint venture called Ode. He acknowledged higher rates, wider spreads, a CoreWeave share drop and Firmus scrapping an IPO.
Unconfirmed: Debt totals, share moves and the cancelled IPO are as stated by Khaira and the article, not independently verified here.
- Blackstone reports $1.3 trillion in assets under management and launched BXN1 in San Francisco.
- CoreWeave sought $2.3 billion with about $30 million of revenue; Khaira says its debt is now about $50 billion.
- CoreWeave shares fell over 20 percent; Firmus dropped a roughly $30 billion Australian listing.
- Ode, with Anthropic and Hellman & Friedman, starts with Blackstone’s 280 portfolio companies.
- Khaira says AI return on investment inside those companies exists but is uneven.
From the original article
4 min read at techcrunch.com
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