- The financing would use a special-purpose vehicle to raise debt and lease Broadcom's custom chips and computing infrastructure to AI labs, extending a $35 billion partnership with Apollo Global Management and Blackstone.
- Reported deal terms remain fluid: the proposed structure includes roughly $45 billion of senior debt and $35 billion of junior debt, while total financing estimates range from more than $60 billion to as much as $100 billion.
- The structure limits direct balance-sheet borrowing but leaves Broadcom guaranteeing part of the debt, creating credit exposure if Anthropic or other financed customers fail to meet payments.
- The transaction reinforces Broadcom's role as both a custom-chip supplier and financing partner in the broader AI infrastructure buildout.
Quotes
“Broadcom's job is to guarantee part of that debt, and that guarantee is where the risk sits.”