Broadcom

Semiconductors · AI Infrastructure · Private Credit

Funding

Broadcom reportedly seeks up to $100B in debt for AI chip buildout

A special-purpose vehicle would keep the borrowing off Broadcom's own books, mirroring how Big Tech now funds AI infrastructure through debt.

• Broadcom is in talks with lenders to raise more than $60 billion, potentially up to $100 billion, in debt to finance AI chip infrastructure for Anthropic and other AI labs, with Blackstone and Apollo Global Management in talks to participate, Bloomberg reported.
• Broadcom designs custom AI accelerators for Alphabet and Meta and supplies data center networking gear, positioning its silicon as an alternative to Nvidia's GPUs for hyperscalers and AI labs.
• The package would pair a $60-70 billion senior-secured tranche, partly guaranteed by Broadcom, with roughly $30 billion of junior debt, issued through a special-purpose vehicle that keeps the debt off Broadcom's balance sheet.
• The deal builds on the AI XPV Platform Broadcom launched with Blackstone and Apollo in June, which raised $35 billion so investors could buy Broadcom-based hardware and lease it to Anthropic, targeting over 20 gigawatts of compute by 2028.
• Goldman Sachs Research estimates total AI-related debt issuance could approach $500 billion in 2026, underscoring how central credit markets have become to the AI buildout.
• Structuring the financing as off-balance-sheet debt lets AI labs lease compute without buying it outright, shifting risk to private credit while chip suppliers like Broadcom lock in guaranteed demand.