Broadcom Seeks More Than $60 Billion for AI Chip Financing

Broadcom is in talks with lenders to raise more than $60 billion in debt financing for chip and computing deployments used by Anthropic and other artificial-intelligence companies. Bloomberg reported on August 20 that the plan could include $60 billion to $70 billion of senior secured debt and roughly $30 billion of junior debt, with Broadcom potentially guaranteeing part of the senior tranche. The talks remain unfinished. The package could approach $100 billion, but that is neither a completed transaction nor debt already borrowed by Broadcom.

Broadcom, Apollo and Blackstone established an AI financing platform in June. Its initial $35 billion transaction supports more than one gigawatt of computing capacity for Anthropic. The companies said the platform aims to enable more than 20 gigawatts by 2028 using Broadcom custom XPUs and networking systems for frontier AI developers including Anthropic and OpenAI.

Broadcom's growth is already visible in its accounts. Revenue for the fiscal second quarter ended May 3 reached $22.19 billion, up 48% from a year earlier. AI semiconductor revenue rose 143% to $10.8 billion. Management expects that figure to reach $16 billion in the third quarter, on total revenue of about $29.4 billion. The company generated $10.26 billion of free cash flow during the second quarter.

The opportunity rests on two businesses: custom accelerators and data-center networking. Large technology companies want alternatives to relying solely on general-purpose GPUs, but their in-house chips still require high-speed interconnects, advanced packaging and years of joint development. Broadcom participates in custom processor design while also supplying switching and optical components. VMware gives the company a separate source of software cash flow.

The financing adds a different kind of risk. Broadcom's custom-chip business depends on a small number of very large customers, and delays or changes in architecture can move revenue sharply. Computing equipment also depreciates quickly. If utilization falls short, the collateral behind the debt may lose value. Any substantive guarantee from Broadcom could therefore turn a customer's financing problem into a contingent liability for the chipmaker.

Market-data providers put Broadcom at roughly 22 to 24 times expected earnings over the following 12 months in early August, suggesting that rapid AI growth is already reflected in the shares. Broadcom reports fiscal third-quarter results on September 2. Delivery against its $16 billion AI revenue forecast, the extent of any guarantees, customer payment terms and margins will offer a clearer test of the business than the financing package's maximum headline figure.

Reporting note: This article is based on Bloomberg's August 20 report on the financing talks and was cross-checked against a Reuters account, Broadcom's June 9 announcement of the AI XPV platform and its fiscal second-quarter results. The financing remains under discussion; the potential $100 billion maximum is not presented as a completed deal. Valuation figures reflect early-August market data. This article is not investment advice. Information reviewed through August 22, 2026.