Apollo announced that funds and affiliates managed by the firm are leading an initial $35 billion capital solution for Broadcom’s new AI XPV Platform in partnership with Blackstone and a group of leading global banks. The platform is designed to support more than 20 gigawatts of compute capacity for frontier AI laboratories through 2028.
The initial transaction will support Anthropic’s previously announced expansion of more than 1 gigawatt of compute infrastructure for training and inference beginning in mid-2026. Broadcom said the AI XPV Platform is intended to pair advanced silicon and networking technologies with long-term capital to accelerate AI compute deployment across the industry.
Apollo described the transaction as the largest private financing ever executed. The financing structure was developed through collaboration between Apollo and Broadcom and is designed to provide committed capital through a multi-year draw schedule. Blackstone joined as a primary capital partner, highlighting the growing role of private capital in funding AI infrastructure.
Apollo said AI compute is emerging as a new asset class characterized by contracted cash flows and increasing demand as frontier AI developers and hyperscalers seek additional computing capacity. Broadcom indicated that the transaction serves as the first component of the AI XPV Platform and that it plans to expand the initiative alongside Apollo, Blackstone, and other partners.
As of March 31, 2026, Apollo managed approximately $1.03 trillion in assets.
KEY QUOTES:
“Broadcom and Anthropic are world-class companies operating at the frontier of technological innovation, and we are proud to have led the largest private financing ever executed. Committing significant investment grade capital as a principal investor alongside our partners, this transaction reflects the scale and flexibility of Apollo’s balance sheet and the power of our integrated platform across High-Grade Capital Solutions, Apollo Capital Solutions and ATLAS SP Partners to structure a solution that met the needs of every party involved. AI compute is rapidly emerging as one of the most compelling new asset classes in finance, characterized by contracted cash flows, mission-critical utility and a supply-demand dynamic that continues to intensify. As hyperscalers and frontier AI labs work to secure the computing power necessary to train and deploy next-generation models, the demand for flexible, large-scale financing requires new capital solutions. We look forward to building on this model as companies advancing AI infrastructure come to market with their most ambitious capital needs.”
Jamshid Ehsani, Partner, Apollo
“The demand for AI compute is growing faster than traditional capital markets can accommodate, and this initial transaction, led by Apollo, demonstrates what becomes possible when world-class technology is paired with a partner of that caliber. Built on a deeply collaborative relationship, this transaction serves as the first pillar of the XPV Platform. We look forward to scaling it alongside Apollo, Blackstone and our broader partner group as the AI infrastructure buildout accelerates.”
Won Kim, Head Of Corporate Development And AI Infrastructure Partnerships, Broadcom
