Blackstone Bet on Chips Drove a Debt Boom That’s Upending Credit

source: news (news:bloomberg-tech)published 2026-10-23 11:15ingested 2026-10-23 15:30

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EXCLUSIVE
Blackstone Bet on Chips Drove a Debt Boom That’s Upending Credit
Takeaways by Bloomberg AI
“What is a GPU?” Blackstone Inc. executives asked CoreWeave Inc.’s leadership. Also: “Is AI real?”
These were entirely logical queries in the early innings of the AI boom, and at a time when CoreWeave was still a little-known AI cloud company on the hunt for funds to buy chips. Blackstone’s tactical opportunities group was convinced by the answers it received, and led a $2.3 billion private credit loan in 2023.

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