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Broadcom just dropped a $35 billion bet that it can become the backbone of AI’s infrastructure buildout. The company launched its AI XPV Platform on June 9, backed by an initial financing tranche of $35B arranged through Apollo Global Management and Blackstone, with the first priority being Anthropic’s massive compute expansion.
The target is staggering: over 20 gigawatts of compute capacity for leading AI labs by 2028. Broadcom plans to deliver this using its proprietary XPUs and networking solutions, positioning itself as the go-to supplier for custom AI silicon outside the traditional hyperscaler model.
Anthropic gets first dibs
The initial deployment is laser-focused on Anthropic’s expansion to over 1 gigawatt of capacity at Fluidstack sites, with operations expected to begin in mid-2026.
This isn’t coming out of nowhere. Broadcom and Anthropic already have history together. On April 6, 2026, Anthropic struck a deal with Google and Broadcom involving the deployment of multiple gigawatts of next-generation TPU capacity, with roughly 3.5 gigawatts expected to come online starting in 2027.
The new AI XPV Platform layers private credit financing on top of that existing relationship, creating a dedicated funding vehicle to accelerate the hardware buildout. Apollo is leading the credit structure, with Blackstone providing additional backing.
Anthropic’s revenue trajectory helps explain why this kind of capital is flowing in. The Claude-maker is projected to reach a $30B revenue run-rate following these partnerships.
The private credit angle
Rather than relying on equity raises or public debt markets, Broadcom went with private credit financing. Apollo and Blackstone are two of the largest private credit players on the planet.
The financing approach also aims to reduce the cost per token through optimized, energy-efficient designs.
What this means for investors
The most notable aspect of this announcement is what it doesn’t include. There are no tokens, no blockchain-based financing mechanisms, and no decentralized compute narratives anywhere in the deal. Broadcom went with the most traditional financing playbook imaginable: private credit from established alternative asset managers.
For investors in traditional tech equities, Broadcom’s strategic pivot is significant. The company is actively distancing itself from the standard hyperscaler supply chain and instead carving out a niche as a custom silicon provider with integrated financing.
Watch for whether OpenAI, which was mentioned as a potential beneficiary of the platform’s capacity, formally signs on.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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