Apollo and Blackstone finance $35B Google TPU lease deal
Apollo Global Management and Blackstone have teamed up for a $35 billion financing deal to help Anthropic expand its AI infrastructure.
This financing will go toward leasing Google's custom TPUs.
It's one of the largest private credit deals ever, showing just how intense the race for better AI hardware has become.
Broadcom backs A1 and A2 tranches
The funding is split into three parts: two tranches backed by chip giant Broadcom for better terms, and a third riskier chunk with higher returns.
Broadcom is providing residual value support for the A1 and A2 tranches if chip-sale proceeds fall short.
Plus, Broadcom plans to work with Apollo and others to build out massive computing power (more than 20 gigawatts of compute capacity through 2028) to serve top AI players like Anthropic and OpenAI.
This move could really shake up how companies access the tech behind next-generation AI tools.