Apollo (NYSE: APO) has announced that Apollo-managed funds and affiliates are leading an initial US$35 billion capital solution as part of Broadcom’s new AI XPV Platform (the platform), in partnership with Blackstone (NYSE: BX) and leading global banks. The platform is designed to enable over 20GW in compute capacity for leading frontier AI labs through 2028. The initial transaction is the product of a deeply collaborative relationship between Apollo and Broadcom, designed to deliver committed, certain capital across a multi-year draw schedule. It will facilitate Anthropic’s previously announced capacity expansion of more than 1GW of compute infrastructure for training and inference starting in mid-2026.
Latham & Watkins LLP represented Apollo in the transaction with a structured finance team led by partners Kevin Fingeret, Graeme Smyth, and Jim Fogarty, with counsel Rolaine Bancroft and Maeve Chandler and associates Jason Pien, Nick Nosce, Kate Zheng, Tommaso Erlicher, Nino Galdava, Nika Yeo, Savannah Markel, and Denis Chan. Advice was provided on corporate and capital markets matters by partners Tracey Zaccone, Chris Clark, and Erika Weinberg, with associates Matt DeSilva, Emma Gilmore, and Azam Chaudry; on data and technology transactions matters by partner Morgan Brubaker and counsel Ryan Clore; on restructuring matters by partners Suzzanne Uhland and Andrew Sorkin, and counsel Jeffrey Mispagel; on UK and EU risk retention matters by partner Tom Cochran; on tax matters by partners Bora Bozkurt and Elena Romanova, with associate Michael Yu; on funds matters by partners Jamie Lynn Walter and Mike Hart-Slattery; on investment company act matters by partner Laura Ferrell and counsel Meghan Carey, with associate Katherine Ryan; and on executive compensation, employment, and benefits matters by counsel Aryeh Zuber.
