tech
Apollo leads $35 billion debt deal for Anthropic's compute
One of the largest private credit deals ever

TL;DR
- Apollo and Blackstone partnered with Broadcom to launch an AI infrastructure platform.
- The platform is backed by an initial $35 billion loan.
- It could challenge SpaceX's long-term growth prospects due to compute commoditization.
- This is one of the largest private credit deals ever.
- The financing will help Anthropic lease Google chips via Fluidstack data centers.
- The platform is designed to enable over 20 gigawatts of compute capacity by 2028.
- Off-balance-sheet financing was used to keep hardware off Anthropic's balance sheet, a move that has alerted regulators.