Broadcom in Talks with Apollo, Blackstone for ~$35B Private Credit Deal to Fund AI Chip Development

Broadcom is in discussions with private credit giants Apollo Global Management and Blackstone for a financing package worth approximately $35 billion to support its AI chip development ambitions, according to sources familiar with the matter. The proposed deal would rank among the largest private credit financings on record and signals how alternative lenders are positioning themselves as critical funding engines for the semiconductor industry's AI arms race.

Apollo and Blackstone are reportedly among the private credit lenders involved in the negotiations with the chipmaker. The talks remain ongoing, and key details—including the final deal size, structure, and full lender composition—could shift before any agreement is reached. Broadcom has become an increasingly important player in the AI semiconductor space, supplying custom chips to major technology companies that are racing to build out their artificial intelligence infrastructure.

The scale of the potential financing underscores the growing role of private credit in funding major corporate initiatives that were traditionally served by public markets or large syndicated bank loans. For private credit firms, technology and semiconductor deals represent attractive opportunities to deploy record amounts of raised capital. For Broadcom, the capital would provide additional resources to compete more aggressively in the AI chip market against established rivals. However, the outcome remains uncertain, and the final terms have not been locked in. The discussions highlight both the capital intensity of AI chip development and the willingness of private credit lenders to commit substantial sums to strategic technology bets.