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Apollo, Blackstone Lead $35B Funding for Broadcom AI Platform

6/9/2026

Summary

Apollo & Blackstone Fund

Apollo (NYSE: APO) and Blackstone (NYSE: BX) led a $35 billion tranche on Broadcom’s AI XPV Platform to fund Anthropic’s 1 GW compute expansion starting mid-2026.
The platform aims to provide over 20 GW of compute for frontier AI labs through 2028.
Broadcom will supply XPUs and networking hardware while Apollo and Blackstone provide financing.
Anthropic and OpenAI are the first customers, with Jamshid Ehsani labeling the deal the largest AI compute financing.

Summary

Anthropic, OpenAI IPO

Anthropic confidentially filed for a U.S. IPO on June 1 after a $65 billion Series H round valued at $965 billion.
OpenAI submitted IPO paperwork on June 8, joining Anthropic in pursuing a listing and financing compute expansion.
Both firms are layering equity raises, a $35 billion chip package, and IPOs to fund model development.
Analysts say the financing mix creates investor entry points that may shape pricing, with IPO success hinging on post-spend revenue growth.

History

Historical Context

When Netscape went public in 1995 and was bought by AOL for $10 billion in March 1999, the deal showed how massive early-stage capital and high-profile IPOs could reshape a tech market. Today, firms such as Apollo, Blackstone and Broadcom are committing $35 billion to Anthropic’s AI compute platform, echoing that financing model for the emerging AI sector.

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Apollo & Blackstone Fund

Apollo (NYSE: APO) and Blackstone (NYSE: BX) led a $35 billion tranche on Broadcom’s AI XPV Platform to fund Anthropic’s 1 GW compute expansion starting mid-2026.
The platform aims to provide over 20 GW of compute for frontier AI labs through 2028.
Broadcom will supply XPUs and networking hardware while Apollo and Blackstone provide financing.
Anthropic and OpenAI are the first customers, with Jamshid Ehsani labeling the deal the largest AI compute financing.

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