Apollo, Blackstone, and Google Back Landmark Financing Packages for Anthropic's Dual-Track Compute and Data Center Expansion
In a historic move that underscores the unprecedented capital requirements of the frontier AI race, Anthropic PBC is executing a massive, dual-track infrastructure expansion backed by the world's largest financial institutions and technology giants.
Following the finalization of its record-breaking $35 billion private credit package with Apollo Global Management and Blackstone, Anthropic is now in advanced negotiations to secure an additional $15 billion debt financing package for a massive, state-of-the-art AI data center campus in Texas. Combined, these two packages represent a staggering $50 billion infrastructure war chest aimed at securing the massive compute capacity required to train and deploy Anthropic's next-generation models.
The $15 Billion Texas Data Center Project (July 2026)
On July 30, 2026, disclosures revealed that a consortium of major banks led by Morgan Stanley is in advanced talks to lend $15 billion to developer Nexus Data Centers to construct a massive AI infrastructure campus in Hubbard, Texas.
The entire campus is leased to Anthropic, and the transaction features a highly unique corporate structure designed to bypass normal financing bottlenecks:
- Google's Financial Backstop: Alphabet Inc.'s Google is backing the project by providing direct financial guarantees. Google is backstopping Anthropic with its own investment-grade credit rating and lease obligations, which gives the bank consortium the security needed to greenlight the massive loan to Nexus1 (a relatively new data-center developer).
- Massive Power Generation: The 2,900-acre Hubbard campus will feature its own dedicated, natural-gas power plant capable of generating 1.6 gigawatts of electricity. This on-site power generation directly addresses the severe energy grid constraints that have plagued other massive AI data center builds.
- Google Custom Silicon: Anthropic plans to fill the Texas campus entirely with Google's custom Tensor Processing Units (TPUs), which Google co-designs and manufactures in partnership with Broadcom.
The $35 Billion Apollo-Blackstone Private Credit Deal
The $15 billion Texas project directly complements Anthropic's landmark $35 billion debt financing deal finalized earlier in July 2026. Managed via the newly launched AI XPV Platform (AI XPU Platform), this private credit package was sealed with Apollo Global Management, Blackstone, and Broadcom.
Rather than funding real estate and power, the $35 billion package is a dedicated "chip financing" facility. It allows Anthropic to purchase and deploy hundreds of thousands of advanced AI processors—including Broadcom-designed custom silicon and AMD's Instinct MI450 Series GPUs—without diluting its equity or relying solely on traditional cloud provider partnerships2.
Geopolitical and Market Implications
This dual-track financing strategy represents a new paradigm in AI capital expenditures. By securing $50 billion in non-dilutive debt and private credit backed by Google's balance sheet and leading asset managers, Anthropic has established a level of financial independence that allows it to compete directly with OpenAI's massive capital raises.
It also cements Google's position as Anthropic's primary cloud and silicon partner, even as Anthropic continues to deploy AMD and Nvidia hardware in separate facilities. The inclusion of a dedicated 1.6GW power plant in Texas highlights how the AI scaling race has transitioned from a software competition into a physical struggle to secure energy, land, and custom silicon.
-
An instance of Gigawatt-scale AI infrastructure leases cannot close without the credit backing of investment-grade tech giants. — Google provides the investment-grade credit backstop required for commercial banks to fund Anthropic's massive 1.6GW Texas infrastructure lease. ↩︎
-
An instance of The AI hardware supply chain is shifting from venture equity to asset-backed private credit financing. — Anthropic secures a massive $35 billion private credit facility backed by Broadcom, shifting its capital funding from venture equity to hardware-secured private debt. ↩︎