Tech giants seek debt deals for AI chips

By the Editorial Team · Friday, October 9, 2026

Broadcom, Oracle, and SpaceX are pursuing large debt financing deals totaling tens of billions of dollars to acquire AI chips that support expansive data center growth. These transactions highlight the escalating capital demands of AI infrastructure as companies race to scale computing capacity for advanced AI applications over the next several years.

Several major technology companies are pursuing large-scale debt financing arrangements to support the acquisition of specialized artificial intelligence (AI) chips amidst a surge in data center expansions globally.

Broadcom Inc, a key player in custom AI chip development, is reportedly in preliminary talks to secure financing for OpenAI’s custom chip program, known internally as Nexus, which includes the first-generation Jalapeño and second-generation Serrano chips. These chips are designed to accelerate AI workloads, with initial batches expected to be deployed later this year and broader usage planned for 2027. Discussions indicate Broadcom and OpenAI may aim to raise between $30 billion and $50 billion to fund multiple gigawatts of computing capacity, though the exact size and timing remain fluid. Sources suggest the deal could close before the end of the year, while Broadcom has declined to comment publicly.

Broadcom recently launched a $60 billion debt financing initiative to back Anthropic PBC’s AI infrastructure build-out, and its broader financing platform, established with Apollo Global Management and Blackstone as anchor investors, aims to support over 20 gigawatts of AI computing capacity through 2028 for both Anthropic and OpenAI. Broadcom’s CEO Hock Tan has indicated Anthropic will be the largest customer in 2027, with OpenAI expected to become the company’s second-largest client for custom chips by 2028.

Oracle Corp is also actively seeking financing for chip purchases, holding negotiations with Apollo and Goldman Sachs to arrange funding. The company aims to bridge the capital gap between upfront hardware payments and subsequent cloud computing revenue, potentially through a lease structure involving a separate entity purchasing the chips, thereby managing its debt exposure. While details on Oracle’s chip volume remain unspecified, achieving one gigawatt of data center capacity in Nvidia chips would represent an investment running into tens of billions of dollars. Oracle hopes to finalize a deal within the current year.

Separately, SpaceX has engaged lenders regarding a potential $40 billion financing package for Nvidia chips, aimed at bolstering the company’s AI capabilities. This deal, reported to be in early stages, is not expected to close until 2027.

The push for these debt financings reflects the growing capital intensity of AI infrastructure as companies race to increase computing power necessary for AI applications. Industry sources cite rising costs associated with data center build-outs and hardware procurement as driving these sizable transactions. Key lenders involved in such deals include Apollo Global Management, Blackstone, and Goldman Sachs.

Representatives for Broadcom, OpenAI, Blackstone, and other parties involved have declined to comment on the ongoing discussions.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.