Apollo and Blackstone finance $35 billion AI capacity expansion for Anthropic using Broadcom custom chips, with initial one gigawatt deployment starting mid-2026.

Apollo is leading the initial investment tranche alongside Blackstone's Credit & Insurance business to fund a $35 billion expansion of AI computing capacity for Anthropic. The initial commitment will expand capacity by one gigawatt, to be deployed at Fluidstack-operated data-center sites beginning mid-2026.

The partnership plans to enable more than 20 GW in computing capacity for leading AI labs, including OpenAI, through 2028. Broadcom is supplying custom chips and networking solutions designed to reduce the cost and power needed to train AI models.

Private-equity firms have emerged as a crucial source of funding for AI companies amid a shortage of costly and supply-constrained AI infrastructure. Meta in October struck a $27 billion financing deal with Blue Owl Capital to fund its biggest data-center project.