Broadcom is negotiating to secure more than $60 billion — and potentially as much as $100 billion — to support the production of AI chips for Anthropic and its other clients, according to a report. The deal highlights a defining feature of the global AI buildout: development is increasingly being financed by loans rather than company funds. The talks are ongoing, and the final size and structure could change before any agreement is signed.

Debt, not cash, is bankrolling the chips

The financing under discussion would be divided into several portions. The junior debt tranche is estimated at roughly $30 billion, while Broadcom is expected to guarantee part of a senior secured debt portion worth approximately $60 billion to $70 billion. Taken together, the total amount of financing raised is expected to reach $100 billion.

A special-purpose vehicle would issue the debt, keeping it off Broadcom's own balance sheet. Blackstone and Apollo Global Management, two of Wall Street's biggest private-credit firms, are also in talks to participate. Both are pillars of private credit — lending arranged directly by asset managers rather than banks — a market that has grown into one of the largest corners of global finance and is now a principal funding channel for AI infrastructure.

This is not a one-off transaction. Goldman Sachs Research predicts that total debt issuance associated with AI could reach just under $500 billion by 2026. Credit strategist Amanda Lynam put the theme succinctly: "It's hard to overstate the importance of this theme in the credit markets, both in terms of its overall scale."

The broader conclusion is clear. The cost of developing AI infrastructure has reached a level at which even companies with enormous cash reserves no longer want to cover the costs fully by themselves.

A financing model built to loosen Nvidia's grip

What makes the financing strategically significant is what Broadcom's chips are designed to do. The company develops custom silicon for Alphabet and Meta and holds supply agreements with Anthropic and OpenAI, as major AI players look to build their own accelerators and reduce their dependence on Nvidia. That dependence is substantial: Nvidia supplies the large majority of AI accelerators running in data centers, an advantage reinforced by roughly two decades of investment in its CUDA software ecosystem.

Providing funding for custom chips at this magnitude makes that option more achievable.

Nvidia is working toward a similar end from the other direction. In August, the chipmaker reportedly arranged funding with investment firms including Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR in order to obtain more than $500 billion in third-party financing.

That changes the nature of the AI chip race. Competition is increasingly about who can secure the cheapest and deepest pools of capital, not simply who can build the fastest processor.

The 20-gigawatt bet behind the numbers

The new raise builds on a model Broadcom established in June, when it launched a platform with Apollo and Blackstone through an initial $35 billion transaction to expand Anthropic's computing capacity by more than one gigawatt.

The collaboration's ultimate objective is to bring more than 20 gigawatts of compute capacity to frontier AI laboratories such as Anthropic and OpenAI by 2028, and the new debt agreement is expected to take the same shape as its predecessor — only with significantly bigger figures.

According to Bank of America's Tom Curcuruto, Broadcom's chip financing facility could advance to $370 billion worth of senior debt by the middle of 2029, which would be used to finance 20 gigawatts of capacity.

The electricity requirement puts the scale in perspective. As Cryptopolitan reported in April, a one-gigawatt data center requires approximately the same amount of energy as one million homes in the United States.

The near-term markers are concrete: whether the new financing closes and on what final terms, and how quickly the gigawatts funded by the June platform actually come online.

Broadcom's AI revenue is already climbing fast

The borrowing comes as Broadcom's AI business accelerates sharply. In its fiscal second quarter, ended May 3, 2026, the company generated $10.8 billion in AI semiconductor revenue, up 143% from a year earlier. CEO Hock Tan told investors he expects that figure to exceed $16 billion in the third quarter, representing growth of more than 200%. Total quarterly revenue reached $22.2 billion.

That growth helps explain the willingness of lenders to fund hardware on such a large scale. Broadcom is not merely speculating on future AI demand — its current revenue already shows how quickly that demand is turning into chip sales. The next checkpoint is Broadcom's fiscal third-quarter report, which will show whether the projected $16 billion in AI semiconductor revenue materializes.