Key points
- Broadcom is reportedly in talks to raise more than $60 billion in debt for a single AI infrastructure deal, Bloomberg reported Aug. 20, 2026.
- The financing may include a $30 billion junior tranche, and the total package could reach $60 billion to $70 billion, or as much as $100 billion under some figures discussed.
- Broadcom shares closed at $364.03 on Aug. 20, up 0.43%, after falling as much as 6% on Aug. 14 over a separate $370 billion financing estimate.
Broadcom (AVGO) is in talks with a group of lenders to raise more than $60 billion in debt for a single artificial intelligence infrastructure deal, Bloomberg reported Aug. 20, 2026, citing people familiar with the matter. The report named Blackstone Inc. (BX) and Apollo Global Management (APO) among the lenders involved, the same two firms that arranged a $35 billion financing for Broadcom in June. Broadcom carries a market value near $1.73 trillion.
The financing under discussion may include a junior debt tranche of about $30 billion, Bloomberg said. Broadcom would also guarantee part of a senior-secured tranche, and together the two pieces could bring the total package to $60 billion to $70 billion. Bloomberg reported that some figures circulating among people close to the talks put the eventual total as high as $100 billion. A special-purpose vehicle would issue the debt, not Broadcom directly, following the same structure used in June. Discussions are ongoing, terms could still change, and the financing could arrive in stages rather than close as one transaction.
The deal would extend chip and AI infrastructure access to Anthropic PBC and other companies, according to the report. Broadcom, Apollo, Blackstone and Anthropic have not commented publicly on the talks, and none of the parties has confirmed final terms.
The June precedent
Apollo led the earlier $35 billion "AI XPV" platform for Broadcom in June, in partnership with Blackstone and a group of banks, and called it the largest private financing ever executed. That deal funded more than 1 gigawatt of computing capacity for Anthropic's model training and inference, part of a platform Broadcom, Apollo and Blackstone said is designed to support more than 20 gigawatts of AI deployments for frontier labs, including OpenAI, through 2028. Broadcom backed two senior tranches of that first transaction, a $6 billion note and a $24 billion note. Its most recent quarterly filing caps the company's own maximum loss on that deal at $29 billion. The structure lets Broadcom's customers get AI computing capacity built and leased to them instead of paying the upfront capital cost themselves. More on that side of the business is in our look at AI inference and custom silicon, and on Broadcom's stock page.
Wall Street is watching the guarantees
Bank of America (BAC) reportedly downgraded Broadcom's bonds to market weight, the firm's version of neutral, over the growing size of these guarantee structures. BofA analyst Tom Curcuruto has estimated the financing platform could reach $370 billion of senior debt by mid-2029 if it scales to its full 20-gigawatt design, with about $150 billion of new issuance in 2027 alone. That $370 billion figure models the platform's hypothetical future scale rather than debt currently sitting on Broadcom's balance sheet, and it is separate from the $29 billion cap tied to the first transaction. It echoes a similar guarantee Nvidia (NVDA) made to OpenAI in August, when Nvidia capped its exposure at $105 billion after investors pushed back on an earlier, larger figure.
Broadcom shares fell as much as 6% on Aug. 14 after the $370 billion framing spread through the market, then kept sliding through Aug. 19. Broadcom closed at $364.03 on Aug. 20, 2026, up $1.55, or 0.43%, from Aug. 19's close of $362.48. That's still about 13% below where the stock traded before the Aug. 14 drop. Broadcom has not disclosed whether the new $60 billion-plus talks reported Aug. 20 are part of the same 20-gigawatt buildout BofA modeled, or a separate transaction alongside it.
Sources
This story is based on Bloomberg's Aug. 20, 2026 report, "AI Infrastructure Boom Drives Broadcom's $60 Billion Debt Financing Talks" (paywalled), corroborated and summarized by Investing.com. Details on the June 2026 AI XPV platform financing come from Apollo Global Management's press release and the companies' joint PR Newswire announcement. Context on Bank of America's credit view and the $370 billion estimate comes from Yahoo Finance.
