Anthropic expected to receive high 'junk' rating after IPO, FT report says

Anthropic is expected to receive a high 'junk' credit rating after its initial public offering, according to a Financial Times report. The report says Blackstone, anchor investor in a recent $63 billion deal to finance Anthropic's chips, told investors it expects the AI lab to receive a 'high' junk rating after the IPO. Blackstone previously said the Claude maker would receive an investment-grade rating before 2027.

Blackstone's revised forecast

Blackstone now expects Anthropic to receive a double B range rating, described as the top tier of speculative 'junk' grade. The firm had earlier said the company would receive an investment-grade rating, which indicates low risk for lenders. TechCrunch reached out to Anthropic and Blackstone, but both declined to comment.

Impact on Anthropic's funding

Blackstone's forecast is a prediction, but a high junk rating would make it more difficult and costlier for Anthropic to raise money to fund its massive spending. The lab has been on a spending spree over the past 12 months, racking up large compute power deals that have worried investors. Anthropic officially filed to go public earlier this week, kicking off speculation about how the massive IPO would impact the broader AI industry.

Sources: TechCrunch