Apollo and Blackstone commit $34.5B; SPV to buy TPUs and lease to Anthropic
FinanceYF5 · x · 2026-08-19
The TPU side is the largest: Apollo-managed funds, Blackstone and several banks committed $34.5B in debt to the AI XPV Platform. The SPV buys over 1GW of Google TPUs and leases them to Anthropic for five years, with rents servicing the debt.
Broadcom backstops $30B of it, with maximum exposure around $29B.
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