Blackstone Forecasts High Junk Credit Rating for Anthropic After IPO

Anthropic is expected to receive a high junk credit rating following its planned initial public offering, according to a Financial Times report tied to comments from anchor investor Blackstone. The private equity firm, which is central to a recent $63 billion financing deal aimed at securing compute resources for the AI company, has told investors that it now anticipates Anthropic will receive a double-B rating, the highest rung of speculative-grade debt. The projection marks a shift from Blackstone’s earlier position that Anthropic would achieve an investment-grade rating before 2027, a signal of lower borrowing risk that would have reflected stronger expected creditworthiness. A high junk rating would make debt financing more expensive and potentially more constrained for Anthropic as the company continues to fund aggressive spending on artificial intelligence infrastructure. Over the past year, Anthropic has pursued large compute and chip-related agreements to expand its capacity, intensifying investor scrutiny of its cost base and long-term funding strategy. Although Blackstone’s assessment is only a forecast, it underscores the market pressure facing AI developers that require substantial capital while still proving sustainable profitability. The report emerges shortly after Anthropic formally filed for an IPO, setting off broad speculation about how one of the largest potential public offerings in the AI sector could reshape investor expectations for private AI labs. Anthropic and Blackstone declined to comment on the matter.