Broadcom explores over $60bn AI debt deal

Broadcom (AVGO) is in discussions with a group of lenders to raise more than $60 billion in debt tied to an AI chip financing arrangement. The deal is designed to support AI compute capacity for Anthropic PBC and other companies that rely on advanced chips. Negotiations are ongoing and the structure of the transaction is still being worked out with potential lenders.

People familiar with the talks describe the package as aimed at channeling large‑scale funding into AI infrastructure through Broadcom’s (AVGO) role in supplying chips. The focus is on securing long‑term financing that aligns with rapidly growing demand for AI compute from multiple customers.

The financing under discussion includes a senior‑secured portion reported at about $60 billion to $70 billion, paired with a roughly $30 billion junior debt tranche. If executed at this scale, the combined structure could total as much as $100 billion in commitments. The senior‑secured slice would sit at the top of the capital structure, while the junior tranche would absorb more risk and offer higher potential returns.

Broadcom may guarantee part of the senior debt, providing additional support to that portion of the financing. The final mix and size of each tranche remain subject to negotiation, and the parties have not yet agreed definitive terms. The talks illustrate how structured debt is being used to mobilize very large sums for AI‑related infrastructure.

Asset managers Blackstone (BX) and Apollo Global Management (APO) are in discussions with Broadcom to participate in the financing. Their potential involvement follows a broader financing partnership the three firms established in June. That partnership created a framework for large‑scale capital deployment alongside Broadcom’s technology offerings.

By joining the deal, Blackstone (BX) and Apollo (APO) would help provide capital for the senior and possibly junior tranches under consideration. Their participation would combine institutional investor funding with Broadcom’s chip expertise to support Anthropic and other AI customers. Discussions continue as the parties assess structure, risk allocation and return profiles.

If completed as discussed, the debt package would represent a major example of private financing being used to expand AI infrastructure at scale. The potential size of more than $60 billion, and possibly up to $100 billion, underscores the capital intensity of advanced AI compute. It also shows how technology suppliers and large asset managers are partnering to meet that demand.

The talks highlight an emerging model in which long‑term AI chip supply is backed by multi‑layered debt structures arranged with institutional investors. While no final agreement has been announced, the negotiations signal that Broadcom and its financial partners are positioning to support large AI workloads for Anthropic and other customers through dedicated financing solutions.