Apollo and Blackstone are working to bring additional investors into a roughly $36 billion debt financing deal aimed at building AI infrastructure for Anthropic [1, 2]. The financing will be used to purchase Google's custom-designed tensor processing units (TPUs), essential components for running large-scale AI models [1, 2].
Anthropic will not directly own the chips but will lease them after the purchase, according to sources familiar with the deal [1, 2]. An unnamed source indicated that Broadcom, which assisted Google in developing these TPU chips, is the largest single payer involved in the transaction [2].
The structure of the deal reflects growing investor interest in AI hardware financing as demand surges for advanced chips powering AI workloads. The $36 billion debt facility aims to provide Anthropic with the necessary capital to secure cutting-edge TPU technology critical to its AI development [1, 2].
Initial reports of the deal surfaced on May 29, 2026, when Apollo and Blackstone publicly sought partners to join the financing [1, 2]. Since then, the involved parties have continued negotiations to finalize the group of investors participating in the transaction.
The collaboration highlights the close relationship among leading tech investment firms, chip manufacturers, and AI startups in securing hardware resources. The next major development will likely be the announcement of final investor commitments and the formal close of the debt facility, expected in the coming months.
