Apollo and Blackstone Lead $35bn Private Credit Deal for Anthropic AI Expansion

In a move reflecting the growing role of private credit in financing tech infrastructure, Apollo and Blackstone finalized a massive $35 billion financing deal to bolster Anthropic's computing capabilities. The transaction utilizes an innovative Special Purpose Vehicle (SPV) structure designed to purchase custom Tensor Processing Units from Google and lease them to Anthropic. Additionally, Broadcom played a critical role by providing residual value guarantees and credit endorsements for significant debt tranches within the deal.

This deal arrives amid accelerating capital expenditure in the AI sector, with its scale surpassing previous financing rounds and positioning Apollo and Blackstone as direct competitors to traditional banks in tech lending. In comparison to peers, companies like Microsoft and Meta continue to pour billions into data centers, with Microsoft's capex reaching approximately $14 billion in the most recent quarter per market data. This trend reinforces the status of Broadcom and Google as essential AI infrastructure providers, diversifying the ecosystem beyond Nvidia's dominance.

Regarding market performance, APO closed at $127.57 and BX at $114.19 (close June 8, 2026), while AVGO stood at $396.6. Investors are now watching the impact of these long-term credit commitments on alternative investment balance sheets, while monitoring upcoming economic catalysts, including scheduled Fed official speeches in the weekly calendar that may influence lending costs.