Broadcom is in talks to raise over $60 billion in debt financing—potentially up to $100 billion including junior tranches—for an AI chip infrastructure deal supporting Anthropic and others, with Blackstone and Apollo Global Management participating.
The move reflects Broadcom's strategy to capture AI infrastructure market share from Nvidia by enabling AI companies to build their own computing capacity.
What happened
Broadcom is negotiating with lenders to secure more than $60 billion in debt financing for an AI chip deal supporting Anthropic and other companies, Bloomberg reported Thursday. The financing package may include an additional junior debt tranche of approximately $30 billion, potentially bringing total financing to as much as $100 billion. Blackstone and Apollo Global Management are in discussions to join the arrangement.
Why it matters
Broadcom aims to increase sales of chips and data center equipment as it competes with Nvidia in the AI infrastructure market. The deal would provide companies like Anthropic access to chips and essential AI infrastructure, part of a broader trend of AI companies taking a larger role in building computing capacity. For chip makers and infrastructure investors, this signals a shift toward direct hardware partnerships with AI developers rather than traditional vendor relationships alone.
What to watch
Discussions remain ongoing and terms may change; the financing could be distributed in stages rather than as a single transaction. The structure is expected to resemble the $35 billion debt agreement from the group's AI XPV partnership formed in June.
Ask the AI about this article →
Broadcom's push to secure over $60 billion in debt financing represents a significant pivot in how AI infrastructure is being financed and deployed. Rather than relying solely on traditional chip sales to cloud providers, Broadcom is partnering with heavyweight financial firms (Blackstone and Apollo) to build direct relationships with AI companies like Anthropic. This structure, modeled on the group's $35 billion AI XPV partnership from June, signals a consolidation of infrastructure ownership among select AI players.
The deal's scale—potentially reaching $100 billion—underscores the capital intensity of AI infrastructure and reflects a market dynamic in which AI companies are increasingly taking ownership of their computing infrastructure rather than renting it from hyperscalers. For Broadcom, this is a direct competitive challenge to Nvidia's dominance in AI chips; by financing infrastructure directly, Broadcom can lock in long-term chip demand while helping Anthropic and similar firms achieve the computing capacity they need.
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