Apollo Global Management and Blackstone are working to bring in additional investors for about $36 billion debt financing tied to Anthropic's AI infrastructure expansion, Bloomberg News reported.

The debt would be used to buy custom chips (tensor processing units, or TPUs) from Google, which Anthropic would then lease. Broadcom, which helps Google develop the chips, is backstopping payments on the largest portions of the transaction.

Anthropic raised $65 billion at a $965 billion post-money valuation. Apollo and Blackstone plan to sell down part of the debt while retaining significant portions themselves. Investors are being asked to submit orders this week, with the deal expected to close next week, though discussions are ongoing and terms could still change.

Anthropic and OpenAI are eyeing potential IPOs as early as this year.