Broadcom's Wall Street underwriting group is moving to raise $60 billion in fresh AI chip financing, with beneficiaries including Anthropic and other companies, according to people familiar with the matter.
The banks involved in the huge debt package are preparing to send underwriting invitation letters for $42 billion of Class A senior secured notes, the people said. Blackstone Group is leading $18 billion of Class B subordinated debt, with several Blackstone funds committing $9 billion and the remainder slated for external distribution, the sources said. A Broadcom spokesperson declined to comment.
The financing package has been in preparation for weeks and is drawing close attention from Wall Street and Silicon Valley professionals. Amid public resistance to data center construction, the market hopes to use it to confirm that investors remain willing to keep pouring money into AI infrastructure.
Broadcom wants to sell more chips and data center equipment as it challenges Nvidia, while AI companies such as Anthropic need to keep expanding computing capacity. During August negotiations, people familiar with the matter said the potential deal would help Anthropic and other companies secure chips and other critical AI infrastructure.
The financing is an addition to the hundreds of billions of dollars in AI infrastructure debt already raised. Although most of the money is used to build data centers, financing deals for purchasing chips and servers are also increasing. In August, Nvidia similarly announced cooperation with six major financial giants including Blackstone to mobilize more than $500 billion for investment in AI, including helping customers finance purchases of Nvidia chips. At the same time, Blackstone's investment in Anthropic has boosted the performance of its private equity funds aimed at high-net-worth clients.