Broadcom Arranges Over $50 Billion in Financing for OpenAI's Custom AI Chip Project

Broadcom has been arranging more than $50 billion in financing for OpenAI's custom AI chip project over the past few weeks, according to The Wall Street Journal and Bloomberg. The company has held early discussions with private credit firms including Apollo Global Management and Blackstone, though people familiar with the matter said talks are at an early stage and the size could change.

Broadcom and OpenAI had previously announced plans to develop a 10-gigawatt custom AI chip system, with deployment scheduled from the second half of 2026 through the end of 2029. OpenAI internally refers to the project as Nexus, with the first- and second-generation chips codenamed Jalapeño and Serrano. The financing could cover several gigawatts of OpenAI chip capacity and is expected to close by the end of 2026, according to sources. Both Broadcom and OpenAI declined to comment.

Bloomberg separately reported that early discussions between the two companies involved roughly $30 billion in debt, though formal processes have not begun and plans could still change. The new financing follows Broadcom's earlier work arranging a large debt package for Anthropic.