A portion of the $35 billion financing package supporting Broadcom Inc. and Anthropic’s AI infrastructure buildout is expected to enter the secondary market in the coming months, allowing investors to begin trading the debt.
The deal uses a special-purpose vehicle (SPV) to finance the purchase of custom AI chips developed by Google and Broadcom before leasing the hardware to Anthropic. Broadcom is providing a backstop for Anthropic’s payment obligations on the largest senior tranches of debt.
The financing, structured by Apollo Global Management (NYSE:APO) and Blackstone Inc. (NYSE:BX) will be drawn in stages, with the first tranche expected to become available for trading soon, sources familiar with the matter told Bloomberg. By early 2027, roughly $15 billion of the debt is expected to be accessible to investors.
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