Overview
- Reporters said on Friday that Broadcom is negotiating to raise more than $60 billion of senior secured debt through a special‑purpose vehicle with a possible additional junior tranche of about $30 billion and that terms remain unfinalized.
- Under the proposed structure Broadcom would likely guarantee part of the senior tranche while private‑credit firms including Blackstone and Apollo are reported to be in talks to join, building on a June $35 billion AI XPV arrangement.
- The SPV would buy custom AI processors and lease them to customers such as Anthropic so those companies can scale training capacity without carrying the full upfront hardware cost on their balance sheets.
- Markets moved modestly after the reports with Broadcom shares rising in after‑hours trading and analysts warning that guaranteeing large senior tranches would increase Broadcom’s direct credit and market exposure.
- Spokespeople for Broadcom, Anthropic, Apollo and Blackstone declined to comment, sources say the financing may be rolled out in stages, and the broader AI XPV effort aims to fund many gigawatts of compute that will require far more capital over time.