Broadcom has agreed to provide Anthropic with a loan of up to $42 billion. The funds are intended to support a TPU lease agreement valued at $125.2 billion. This five-year arrangement includes an option for Broadcom to convert the debt into an equity stake in the startup, aiming to make Anthropic its largest custom-chip client by 2027.
In June 2026, Broadcom partnered with Apollo Global Management and Blackstone to finance over 20 gigawatts of AI compute capacity. The initial tranche of this initiative reached $35 billion. Additionally, by August 2026, Broadcom was reportedly negotiating between $60 billion and $100 billion in debt financing through special-purpose vehicles.
Broadcom estimates its AI semiconductor revenue for fiscal 2026 at $58 billion, with projections rising to $115 billion in 2027 and a potential doubling the following year. Meanwhile, Amazon has issued over $62 billion in bonds this year to fund its AI infrastructure, including $37 billion in March and $25 billion in July.
Total spending on AI infrastructure by hyperscalers is expected to surpass $600 billion in 2026. Companies such as Alphabet, Microsoft, and Meta are also actively participating in this capital-intensive expansion. Broadcom’s use of special-purpose vehicles allows for significant leverage that remains off the company's primary balance sheet.
