Wall Street Banks Begin Trading $35B AI Chip Financing Package

According to Bloomberg, Wall Street banks including Bank of America and Morgan Stanley have begun trading a $35 billion financing package for Broadcom and Anthropic's AI infrastructure expansion. Apollo Global Management arranged the package with Blackstone, with bonds priced at approximately par value (100-100.5 cents on the dollar).

The borrower is a special-purpose vehicle that purchases chips developed by Google and Broadcom and leases them to Anthropic. The delayed-draw structure enables funding access across approximately 16 releases over more than one year as chips become available. The transaction reflects how AI infrastructure financing is expanding across traditional bank and private credit markets.