🇺🇸Ten banks are arranging a $22 billion chip-purchase loan for Crux AI, Blackstone and Alphabet’s new cloud venture.

A Bloomberg-attributed Telegram report identifies Crux AI as a newly established cloud venture associated with Blackstone and Google parent Alphabet. The reported $22 billion financing is intended to purchase Google tensor processing units (TPUs), rather than GPUs.

The named participating banks are Goldman Sachs, Sumitomo Mitsui Banking Corporation, Barclays, BNP Paribas, and Scotiabank. Although the report describes a ten-bank group, it does not identify the other five institutions.

The transaction remains at the arranging and syndication stage, with additional lenders being recruited to share the credit exposure. A separate report says some banks will provide an additional $1 billion revolving credit facility; neither the chip loan nor that separate facility is documented as fully drawn or closed in the supplied material.