Investing.com — Apollo Global Management Inc. and Blackstone Inc. are in discussions with Broadcom Inc. regarding approximately $35 billion in financing to support the chipmaker’s artificial intelligence chip development, according to a Bloomberg report Friday.
The financing would rank among the largest private credit transactions on record. The funds are reportedly intended to support Broadcom’s production of chips designed for AI applications..
Terms of the potential agreement remain under negotiation and may change, the report said..
In April, Broadcom disclosed in a regulatory filing that it entered a long-term agreement to develop and supply custom tensor processing units for Google, alongside a separate contract to provide networking and other components for Google’s next-generation AI racks through 2031.
Broadcom also announced an expanded partnership with Google and Anthropic, designed to give Anthropic access to an additional 3.5 gigawatts of next-generation TPU-based AI compute capacity through Broadcom beginning in 2027, contingent on Anthropic’s continued commercial performance. At the time, Broadcom stated the companies were in talks with financial partners to support the deployment.
Last year, Meta Platforms Inc. secured nearly $30 billion in financing from Blue Owl Capital Inc. and Pacific Investment Management Co. for its data center facility in Louisiana.
Related articles
Apollo, Blackstone reportedly in talks for $35B Broadcom financing deal
5 reasons why Jefferies thinks Meta’s pullback is a buying opportunity
This sector is ‘poised for a big, beautiful year’: Truist
