Anthropic Faces ‘High‑Junk’ Credit Rating Forecast After IPO, Blackstone Says

Anthropic, the AI laboratory behind the Claude series, is expected to receive a “high‑junk” credit rating after its initial public offering, according to a report by the Financial Times. Blackstone, the private‑equity giant that anchored a recent $63 billion financing round for Anthropic’s custom chips, told investors that the firm will likely be placed in the double‑B speculative‑grade tier once its shares begin trading. The forecast marks a sharp reversal from Blackstone’s earlier guidance, which had projected an investment‑grade rating – a sign of low credit risk – for Anthropic before 2027. The new outlook, citing a “high” junk rating, reflects concerns that the company’s balance sheet will be strained by its aggressive capital deployment. Anthropic has been on a spending spree, signing massive compute‑power contracts over the past twelve months to fuel the training of ever larger language models. Those deals, while essential for maintaining a competitive edge in the generative‑AI race, have inflated operating costs and left the firm heavily dependent on external financing. A junk rating would make borrowing more expensive and limit the pool of willing lenders, potentially slowing the rollout of new AI services. Industry analysts warn that if Anthropic’s cost of capital rises, the broader AI sector could see a slowdown in the pace of large‑scale model development, as investors become more cautious. Looking ahead, rating agencies are expected to review Anthropic’s financials in the weeks following the IPO. Should the speculative rating be confirmed, the company may need to restructure its debt, seek additional equity, or trim its compute‑intensive projects to restore confidence among investors and maintain its growth trajectory.