Broadcom and Apollo Partner on $35B AI Infrastructure Platform with Anthropic

Broadcom has partnered with Apollo and Blackstone to establish an AI infrastructure platform. The $35 billion platform will enable more than 20 gigawatts of global AI deployments with Anthropic as an initial customer. Apollo, Blackstone, and Broadcom aim to fund AI chip deals for Anthropic and OpenAI.

AVGO has joined Apollo Global Management and Blackstone to launch the AI XPV Platform, a new vehicle to finance large-scale AI compute buildouts, anchored by an initial $35 billion tranche led by Apollo . Apollo described the deal as the largest private financing ever executed, with roughly half of the $35 billion in debt syndicated to other investors and global banks.

The platform is designed to enable more than 20 gigawatts of compute capacity through 2028, built on Broadcom's custom XPUs and networking and customized for frontier AI labs including Anthropic and OpenAI. The opening deployment funds Anthropic's previously announced expansion of more than 1 gigawatt of infrastructure on Fluidstack-based sites starting in mid-2026.

The structure underscores how private credit has become the funding engine for the AI infrastructure race, pairing Broadcom's silicon with Apollo and Blackstone capital to lower per-token training and inference costs. For BX and APO, it deepens exposure to a multi-year compute cycle while concentrating risk in a small set of frontier-lab counterparties.