Broadcom's AI Customer Financing Platform Raises Concerns, Stock Price Closes Down Nearly 6%

August 15th. According to BIT (Bit.com) market data, Broadcom dropped nearly 6% at Friday's close, and the market expressed concerns about the financing model behind its AI infrastructure expansion.

A Bank of America analyst estimated that Broadcom's financing platform for AI chip customers could accumulate up to $370 billion in senior debt by mid-2029, with new issuances in 2027 alone potentially reaching around $150 billion. This estimate is based on a 20-gigawatt data center scale. The debt is borne by the financing platform, not directly by Broadcom, but Broadcom has provided guarantees for lease payments for some customers, with the initial transaction guarantee size at around $29 billion.

This financing model began in June this year, led by Apollo Global Management and the Blackstone Group, providing $35 billion in funding for Broadcom's AIXPV platform. The initial funds will be used to support Anthropic in building over 1 gigawatt of computing power. The platform plans to provide over 20 gigawatts of computing power by 2028. As Broadcom's AI infrastructure expands, the size of its future guarantees will be a market focus.