TLDR Tech / Fintech
Apollo and Blackstone assemble $36B financing vehicle for Anthropic compute expansion
Apollo and Blackstone are structuring a roughly $36 billion private credit deal to finance Google TPUs for Anthropic, one of the largest AI infrastructure financings ever attempted. The transaction uses a special-purpose vehicle that buys the chips and leases them to Anthropic, allowing the startup to scale compute capacity without carrying the debt directly on its balance sheet. The deal highlights the emergence of AI infrastructure as a new asset class, with private credit firms increasingly financing GPUs, TPUs, and data center capacity much like aircraft, real estate, or energy projects.
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