Google-backed neocloud Crux AI secured $22 billion in bank loans to purchase Google's tensor processing units (TPUs). The joint venture between Google and Blackstone aims to provide cloud compute for AI labs like OpenAI and Anthropic, competing with firms such as CoreWeave. Backed by customer commitments and chip value, the loans involve major banks including Goldman Sachs. Crux AI plans to deploy 500 MW of capacity by 2027.