Broadcom has spent the last several weeks working to arrange more than $50 billion in financing for a custom artificial intelligence (AI) chip it is developing jointly with OpenAI. The Wall Street Journal (WSJ) reported on October 7, 2026, citing sources familiar with the discussions. According to the publication, the talks concern funding for the custom AI chip project the two companies are developing together. The WSJ called the deals "blockbuster" debt deals.
WSJ sources emphasize that the negotiations are not yet complete and the deal's final terms are still being formed. The currently cited figure of more than $50 billion could also change as negotiations continue.
Negotiation Details
According to the WSJ, Broadcom has held talks with Apollo Global Management and Blackstone about participating in the deal. Both organizations are mentioned as potential lenders. The publication reports that the negotiations are still at an early stage and the final deal size could change during the process.
Sources also noted that the scope and terms of the negotiations have not yet been fully formed. No final decision has been made on the deal's financial structure, so the figures cited so far are only early-stage estimates.
"Broadcom has been working in recent weeks to arrange more than $50 billion in financing for OpenAI's custom artificial intelligence chip, which the firms are developing together, according to people familiar with the discussions." — The Wall Street Journal
As the quote states, Broadcom has been actively working over the past few weeks to organize the financing. The deal is aimed at the custom chip the two companies are developing together, meaning the funds are planned to go toward the joint OpenAI–Broadcom chip project.
What makes the deal distinctive is that it is directly tied to a specific technology product — the custom AI chip the two companies are developing together. According to WSJ sources, the negotiations intensified in recent weeks and are now at the stage of forming the circle of lenders.
Oracle and SpaceX Are Preparing Large Deals Too
The same WSJ report notes that other tech giants are also preparing large-scale chip financing deals. Oracle is negotiating with Apollo and Goldman Sachs to raise funds for a large chip purchase. In those talks, Apollo is again participating as a lender, as in the Broadcom deal.
SpaceX, meanwhile, has discussed with lenders debt financing of about $40 billion for Nvidia chips. According to the WSJ, the SpaceX deal is aimed specifically at buying Nvidia chips.
As reported by the WSJ, Oracle's negotiations are aimed at financing a large chip purchase, while SpaceX's negotiations concern a debt deal of about $40 billion for Nvidia chips. In all three cases, the talks are about raising large amounts of debt financing for chip infrastructure.
Thus, the WSJ covered three major deals in a single report: Broadcom — more than $50 billion for the OpenAI chip, Oracle — for a large chip purchase (amount undisclosed), and SpaceX — about $40 billion for Nvidia chips.
Notably, Apollo Global Management is mentioned as a potential lender in two deals at once — both in Broadcom's talks on the OpenAI chip and in Oracle's chip-purchase talks.
Bloomberg Covered the Story Independently
Bloomberg also covered the story independently, reporting under the headline "Broadcom Holds Early Talks About Financing for OpenAI Chips." According to the agency, Broadcom is planning the next major deal after the $60 billion debt deal raised for Anthropic's AI infrastructure.
The Bloomberg report notes that the current negotiations are seen as the next "blockbuster" deal after Broadcom's previous large debt deal. The $60 billion Anthropic deal was aimed at expanding AI infrastructure, and the agency describes the planned deal for the OpenAI chip as the next agreement in this direction.
Thus, two respected publications — The Wall Street Journal and Bloomberg — independently confirmed that Broadcom is working on major financing for its joint chip project with OpenAI.
Bloomberg's "early talks" headline matches the conclusion of WSJ sources that the "negotiations are at an early stage": both publications note that the deal is still in the formation stage.
The Deals Are Not Yet Finalized
All of the mentioned negotiations are at an early stage: according to the WSJ, the deal size could change and no agreement has yet been finalized. Final terms and the list of participants will be determined as negotiations continue.
