Blackstone expands AI compute financing via BXN1, downplays debt fears
Blackstone, led by Jas Khaira and its new AI hub Blackstone N1 (BXN1), is aggressively financing AI compute — from a reported $5 billion commitment to Crux AI to large loans to neoclouds including a $2.3 billion deal with CoreWeave and co-leading a $10 billion facility for Firmus — while Khaira says fears about AI buildout debt are overblown despite recent market jitters and rising interest rates. He highlighted Blackstone’s focus on compute financing, flexible capital structures, and using customer contracts and GPUs as collateral to underwrite large credit deals.