Google custom chips, Broadcom's backing, Anthropic paying rent—turns out the most stable on the entire chain is actually Broadcom's credit rating.

Apollo Global Management and Blackstone Group have brought in investors for approximately $36 billion in debt financing to purchase Google's custom TPU chips and lease them to Anthropic. Broadcom guarantees most of the funds, and the deal could become one of the largest private credit and chip financings in history, aiming to provide computing power to Anthropic using Broadcom's credit.