Broadcom, Apollo and Blackstone form $35 billion AI platform

Broadcom Inc. (NASDAQ: AVGO), Apollo Global Management (NYSE: APO) and Blackstone Inc. (NYSE: BX) announced the formation of the AI XPV Platform to deploy more than 20 gigawatts of AI compute capacity through 2028, according to a company press release.

The platform launches with a $35 billion transaction led by Apollo in partnership with Blackstone to support Anthropic's expansion of more than 1 gigawatt of compute infrastructure. The deployment is expected to begin in mid-2026 at Fluidstack-based sites.

The platform will use Broadcom's XPUs and networking solutions customized for AI companies including Anthropic and OpenAI. The framework aims to enable frontier model training and inference for AI applications.

"We are at a historic inflection point where the demand for AI compute is fundamentally reshaping the global economic landscape," said Hock Tan, President and CEO of Broadcom Inc.

Jim Zelter, President of Apollo, stated that the investment reflects the firm's conviction in Broadcom's technology leadership and Anthropic's development roadmap.

Jon Gray, President of Blackstone, said the demand for compute has created opportunities to invest across the AI infrastructure ecosystem, including financing through the company's credit and insurance business.

Apollo manages approximately $1.03 trillion in assets as of March 31, 2026, while Blackstone oversees more than $1.3 trillion in assets under management across various investment strategies.

The announcement builds on an existing strategic relationship between Broadcom and Anthropic, with the new platform designed to provide a scalable framework for future AI infrastructure deployments.

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