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Broadcom in Talks for $35bn Financing
May 12, 2026
Broadcom is in talks with Apollo and Blackstone for ~$35bn financing to fund AI chip development. The financing is tied to Broadcom’s growing AI commitments, including long-term agreements to supply custom TPUs to Google and provide AI compute capacity to Anthropic starting in 2027. Negotiations with the investment firms are ongoing and terms could change, according to sources. Analysts note that the deal highlights a broader shift in private credit, traditionally focused on lower-rated borrowers, toward blue-chip IG companies. Apollo has led similar moves with firms like EDF and Intel, and sees investment-grade lending as a path to growing the private credit market to $40tn. Broadcom has bet heavily on AI, expecting its AI chip revenues to exceed $100bn next year, positioning itself as a custom-chip alternative to Nvidia. Blackstone now holds over $150bn in data centers globally with another $160bn in the pipeline.
Broadcom’s dollar bonds traded stable with the 4.75% 2029s at 100.8, yielding 4.4%
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