Broadcom (AVGO.US) Rises About 2.9% on Plans to Raise US$60 Billion in Debt Financing to Fund AI Chip and Data Center Purchases
Stock News
Oct 02
On Friday, Broadcom (AVGO.US) shares moved higher, climbing about 2.9% as of press time.
Behind the move, Broadcom is leading the arrangement of a US$60 billion debt financing package aimed at funding chip purchases and data center construction for artificial intelligence companies such as Anthropic, ranking among the largest debt financing deals in the AI chip sector.
Citing people familiar with the matter, media reports said Broadcom is working with Wall Street banks on the financing, of which US$42 billion is planned as senior secured Class A notes to be distributed to investors by a bank syndicate, while another US$18 billion is subordinated Class B debt led by Blackstone Group.
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