Lates News

Broadcom (AVGO.O) has been seeking more than $50 billion in financing in recent weeks for custom AI chips developed jointly with OpenAI, according to The Wall Street Journal, citing people familiar with the matter. Institutions including Apollo and Blackstone have held talks about participating in the financing, though negotiations remain at an early stage and the size of the financing could be adjusted. The financing could cover several gigawatts of OpenAI custom chip capacity and is expected to be completed as early as the end of this year. OpenAI internally calls the chip project "Nexus," with the first- and second-generation chips codenamed Jalapeo and Serrano, respectively. OpenAI and Broadcom previously announced a partnership to develop a 10-gigawatt custom chip system, with deployment planned to run continuously from the second half of 2026 through the end of 2029.