According to insiders, asset management giant Apollo Global Management and Blackstone Group are jointly launching a debt financing transaction worth approximately $36 billion. This move aims to attract more investors to jointly provide financial support for the construction of artificial intelligence infrastructure for the top AI unicorn Anthropic.
One of the largest private credit transactions in history
This massive financing will become one of the largest private credit transactions in history.
. Its uniqueness lies in the adoption of a "rent to buy" model:
- Debt funds will be specifically used to purchase customized AI chips TPU developed by Google
- After the chip is delivered, Anthropic rents it out to obtain key computing power support
This model allows Anthropic to obtain stable computing power through installment payments in the form of rent, without having to bear huge procurement costs at once.
Broadcom provides credit endorsement
Broadcom, which plays a core role in the chip supply chain, also provided strong credit endorsement for the largest part of the payment in this transaction.
. The entire transaction cleverly utilized Broadcom's credit qualifications, opening up an extremely stable channel for Anthropic, whose valuation had just surpassed that of competitor OpenAI, to obtain computing power. It can be said that this is a tripartite collaboration that spans across Wall Street capital, chip giants, and AI nouveau riche.
The stock price rose in response
Stimulated by this heavyweight positive news, the stock prices of related technology giants all recorded an increase in after hours trading:
- Broadcom's stock price once rose 1.9%, reaching a post hours high of $434.84
- Google's parent company Alphabet's stock price rose 1.2%, reaching $394.81
The recognition of this new financing model by the capital market is evident..
Industry significance: The big model arms race has entered a new stage
Industry analysts point out that this epic transaction has released three important signals:
- Breaking records: This is the highest record for global chip financing debt transactions
- Mode innovation: a combination of rent and buy and credit endorsement, opening up a new path for AI computing power financing
- Competition upgrading: the big model arms race has completely entered a new stage of competing for underlying computing power resources and capital integration capabilities
Simply put, who can compete in capital and Whoever builds a moat in terms of computing power has the potential to take the initiative in the next round of AI competition.