Broadcom in talks for up to $100B AI chip debt financing with Blackstone and Apollo
On Aug 21 Bloomberg and others reported Broadcom is in talks with lenders for over $60B in senior secured debt, potentially plus ~$30B junior — up to $100B total — to support Anthropic and other AI customers' chip and data-center access; Blackstone and Apollo may join, with debt issued via an SPV.
On August 21, Bloomberg and other outlets reported that chip giant Broadcom is in talks with multiple lenders to raise more than $60 billion in debt for an AI chip financing arrangement that would help companies including Anthropic secure chip and key data-center capacity. The deal remains under negotiation and could also include about $30 billion in junior debt, putting the total at up to $100 billion.
Under the proposed structure Broadcom would partially guarantee the $60-70 billion senior secured tranche — which sources say may earn investment-grade ratings — while the roughly $30 billion junior tranche would be marketed to hedge funds and private equity firms at higher yields. More than 20 global alternative asset managers have expressed interest.
Blackstone and Apollo Global Management, both of which signed a compute-infrastructure financing agreement with Broadcom in June, are now in talks to participate. The debt is expected to be issued via a special purpose vehicle (SPV), echoing the structure of the partners' earlier AI XPV $35 billion deal, in which Broadcom guaranteed most of the debt and investors funded custom AI silicon leased to Anthropic. That structure earned the senior tranche investment-grade ratings.
The partnership aims to finance more than 20 GW of compute capacity, with total capital needs in the hundreds of billions (20 GW is roughly equivalent to 20 nuclear plants). Broadcom management said in March that AI chip revenue is expected to top $100 billion next year, with a separate deal worth over $30 billion signed with Apple. Earlier this month, Nvidia announced a coalition led by BlackRock and Goldman Sachs raising more than $500 billion for AI infrastructure. Broadcom, Anthropic, Apollo, and Blackstone declined to comment.