Broadcom amassing US$60 billion to fund chips for Anthropic: sources
Banks involved in the massive debt package include Bank of America, Citigroup and Morgan Stanley
Broadcom is accumulating US$60 billion in financing to fund AI chips for Anthropic and other companies, according to sources. Major banks, including Bank of America, Citigroup, and Morgan Stanley, are set to issue a US$42 billion Class A senior-secured tranche, with Broadcom covering residual value support. Blackstone is leading a US$18 billion Class B junior debt tranche, contributing US$9 billion from various funds.
This financing, which has been in the works for weeks, is gaining attention from Wall Street and Silicon Valley professionals as it reassures investors' confidence in AI's growth despite public concerns about data-center construction. Broadcom aims to increase chip sales and data-center equipment, challenging Nvidia, while AI companies like Anthropic require more computing capacity. Additional banks may join the senior-secured financing tranche as early as Friday (Oct 2).
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
