WALL STREET BETS $35 BILLION ON ANTHROPIC CHIPS — APOLLO AND BLACKSTONE CLOSE THE LARGEST AI INFRASTRUCTURE DEAL EVER

Apollo Global Management and Blackstone closed a $35 billion private credit deal on June 5, 2026, to purchase Google TPU chips on behalf of Anthropic. This is not a loan. This is not a venture investment. Private equity firms are buying physical AI hardware and leasing it back to an AI company so that AI company can run AI. The structure involves a specially designated vehicle that holds the chips and leases them to Anthropic at data centers in New York, Texas, Louisiana, and Indiana. Broadcom is backstopping the deal with residual value guarantees on the senior tranches.

Put this in context. Anthropic just completed a $65 billion Series H funding round weeks before this, valuing the company at $965 billion. Now add $35 billion in chip financing on top. That means Anthropic has mobilized $100 billion in capital in 2026 alone. The company is not yet profitable. It has never been public. And yet the capital markets are treating it like critical infrastructure, because at this point it probably is. The bet Apollo and Blackstone are making is that demand for Anthropic’s compute will be so large and so durable that the chips themselves are a safe credit asset. They are financing the pick-and-shovel side of the AI gold rush, and at $35 billion, they are doing it at a scale that has no precedent.

Keywords: Anthropic chip deal Apollo Blackstone, AI infrastructure investment, Google TPU Anthropic, private credit AI