AIBloomberg3h ago
a group of 10 banks is giving a $22B loan
Sources: a group of 10 banks is giving a $22B loan to Blackstone and Alphabet's cloud venture Crux AI, which aims to provide compute for AI labs, to buy TPUs
TL;DRTen banks loaned $22B to Crux AI, a Blackstone-Alphabet venture buying AI chips.
Why it matters: Massive capital influx signals serious competition emerging against Nvidia's AI chip dominance.
A group of 10 banks is providing a $22 billion chip loan to support Blackstone Inc. and Alphabet Inc.'s new cloud venture Crux AI …
Read full articleSource: Bloomberg · Opens in new tab