NEW YORK — Apollo Global Management and Blackstone have finalized a $35 billion private credit financing package for Anthropic to expand its AI computing infrastructure through the purchase of custom chips, the firms announced this week.
The deal, structured through a special-purpose vehicle, will primarily fund Anthropic’s acquisition and leasing of Google’s Tensor Processing Units (TPUs) and related networking solutions developed with Broadcom, according to statements from Apollo and reports from Bloomberg and Reuters. Apollo is leading the initial investment tranche, with participation from Blackstone’s credit business and other banks.
The financing supports Anthropic’s broader push to scale AI training and inference capacity. It involves Broadcom providing custom XPUs based on Google designs, with the platform aiming to build significant gigawatts of AI compute over the coming years. The initial phase targets more than 1 gigawatt starting in mid-2026.
Apollo-managed funds and affiliates are committing a substantial portion, with Blackstone joining as a key partner. The debt is divided into tranches, including senior portions backed by Broadcom guarantees and residual value support, sources familiar with the matter told Bloomberg.
Anthropic, a major artificial intelligence company known for its Claude models, has been rapidly expanding its compute needs amid the global AI race. The arrangement allows the company to lease the advanced chips rather than purchase them outright, helping manage capital expenditure.
"This partnership represents an important step in aligning leading capital providers with cutting-edge technology infrastructure," a spokesperson for Apollo said in a statement.
Broadcom’s involvement includes guarantees on most of the debt, according to deal details. The transaction follows earlier reports in late May of Apollo and Blackstone shopping a roughly $36 billion debt package for similar purposes.
The deal highlights the growing intersection of private credit markets and AI infrastructure investment. Both Apollo and Blackstone have increased their focus on technology and data center financing in recent years.
Anthropic did not immediately comment on the specifics of the financing. Terms of the debt tranches include varying coupons, with senior portions priced relative to Treasuries and others at fixed rates, according to people familiar with the structure.
As of June 10, 2026, the financing has closed, providing Anthropic with expanded access to compute resources. Further details on the exact allocation, additional investors, or long-term capacity targets were not fully disclosed in initial announcements. The platform is expected to contribute to broader global AI infrastructure growth.
