Apollo leads $35B private financing for Broadcom's AI compute platform, targeting 20GW by 2028
Apollo-managed funds are leading what the firms describe as the largest private AI infrastructure financing on record — a $35 billion capital solution built around Broadcom's XPU silicon, with Blackstone co-participating and Anthropic's 1GW+ compute expansion (starting mid-2026) as the first funded tranche, OpenAI also named as a served customer. The structural signal is that private credit managers, not hyperscalers or governments, are now writing the largest checks in AI infrastructure, treating contracted compute capacity as a long-duration asset with predictable cash flows.
Source: ir.apollo.com ↗
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.
Why this matters
- → Private credit now finances largest AI infrastructure deals, not governments or hyperscalers
- → Sets template for treating compute capacity as bankable long-duration assets
- → Signals $35B capital unlock for 20GW AI compute buildout through 2028