Blackstone and Apollo Global Management finalized a $35 billion debt financing package for Anthropic. This transaction ranks among the largest private credit deals in history. Anthropic will use the funds to acquire custom Tensor Processing Units (TPUs) from Google.
The deal utilizes a special-purpose vehicle to lease the high-cost chips. This structure allows Anthropic to expand its AI infrastructure without diluting its equity.
The debt consists of three tranches. Broadcom is providing financial backing for the two largest senior portions totaling $30 billion. This backing secures the deal and reduces borrowing costs for the AI startup.