Broadcom is currently in preliminary discussions to secure over $50 billion in financing for custom AI chips developed in partnership with OpenAI. The companies are negotiating with major private credit firms, including Apollo Global Management and Blackstone, to fund the hardware procurement.
The collaboration, which began in October 2025, focuses on creating specialized AI accelerators under OpenAI’s internal Nexus program. The initial chip generations are codenamed Jalapeño and Serrano. The partners aim to deploy 10 gigawatts of these accelerators by the end of 2029.
This initiative follows a similar model used by Broadcom to arrange a debt financing package of approximately $60 billion for Anthropic. Broadcom previously executed multiple large-scale orders with OpenAI, though the specific financial terms of those past transactions remain undisclosed.
The deal is not expected to be finalized before the end of 2026. The proposed financing aims to mitigate the high upfront costs of AI infrastructure, including power and cooling, which often precede revenue generation from AI products.
