The race to build advanced AI infrastructure continues to accelerate as Apollo Global Management and Blackstone have completed a massive $35 billion financing package for Anthropic. The funding will support the expansion of the AI company’s infrastructure and help finance Google’s custom AI chips that Anthropic will lease for its operations.
The transaction is considered one of the largest private credit deals ever completed and highlights the growing demand for capital to support data centres and AI computing infrastructure. As AI development scales rapidly, technology companies are increasingly turning to innovative financing models to secure the resources needed for advanced computing power.
The financing package has been structured across 3 debt tranches. Broadcom is providing support for the largest senior portions of the debt, helping secure favourable borrowing terms. Around half of the $35 billion debt package was syndicated to other investors.
The deal also marks a significant milestone for the emerging chip-financing market. Broadcom, which works with Google on developing Tensor Processing Units (TPUs), is expected to play a major role in future AI infrastructure financing projects.
During a recent earnings call, Broadcom CEO Hock Tan said, “Our strategic vision is to bring together Broadcom’s leading technology and investor partners with the strongest balance sheets to deliver at scale sufficient compute capacity at the lowest cost and power for the leading AI frontier labs, including Anthropic and OpenAI.”
The financing follows Anthropic’s confidential filing for a US IPO as it seeks to enter public markets. The company recently secured funding that valued the business at $965 billion, including the latest investment.
As part of the structure, a special-purpose vehicle will purchase the AI chips using a combination of debt and equity financing before leasing them to Anthropic. Apollo’s Atlas SP Partners also contributed $800 million in equity to the transaction.
The deal reflects the growing collaboration between financial institutions, technology companies, and AI developers as demand for advanced computing infrastructure continues to surge globally.
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