The financing package backs Crux AI, a venture linked to Blackstone and Alphabet.
Goldman Sachs is arranging a reported $22 billion artificial intelligence chip financing package linked to Blackstone and Alphabet's Crux AI venture. The bank is working with Crux AI as part of an effort to back capital-intensive AI infrastructure projects, structuring deals backed by graphics processing units.
The mandate reflects the firm's strategic focus on capital-light client businesses. Structuring large technology financings allows the investment bank to earn fees and spreads without taking heavy balance-sheet risk, alongside competitors such as JPMorgan and Morgan Stanley.
At the same time, Goldman Sachs is expanding its private equity alternatives business through fresh fundraising rounds across its global private markets franchise, including new West Street funds. The bank carries a reported market capitalisation of $295.7 billion.
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