# Wall Street Banks Trading Parts of $35 Billion AI Chip Deal > Source: > Published: 2026-07-22 22:04:04+00:00 (Bloomberg) -- Wall Street banks have started buying and selling an initial piece of a $35 billion financing package for Broadcom Inc. and Anthropic PBC's AI infrastructure expansion, with the biggest private credit deal ever now being offered to a wider pool of investors. Most Read from Bloomberg - [Apple to Launch 'Upgrade' Device Leasing Program With Klarna to Spur Sales](https://www.bloomberg.com/news/articles/2026-07-21/apple-to-launch-upgrade-device-leasing-program-with-klarna-to-spur-sales?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) - [Apple Plans Overhaul of MacBooks, iMac in Push to Meet AI Demand](https://www.bloomberg.com/news/articles/2026-07-22/apple-to-launch-new-macbook-air-imac-macbook-pro-neo-mac-mini-mac-studio?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) - [Hegseth Turns to UNC, Virginia Tech After Dropping Ivy League](https://www.bloomberg.com/news/articles/2026-07-22/hegseth-turns-to-unc-virginia-tech-after-dropping-ivy-league?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) - [Trump Extends Pardons to Companies, Echoing a 17th Century King](https://www.bloomberg.com/news/features/2026-07-21/trump-s-corporate-pardon-power-echoes-a-17th-century-english-king?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS) Banks including Bank of America Corp. and Morgan Stanley have been trading parts of the debt over the past week, according to people with knowledge of the matter, who asked not to be identified because they are not authorized to speak publicly. The banks were among the joint placement agents on a $24 billion tranche of the overall debt package. Representatives for Bank of America and Morgan Stanley declined to comment. Apollo Global Management Inc. has also been marketing the debt to institutional investors, other people said on the condition of anonymity. The company had arranged the $35 billion financing package for the borrower, working with Blackstone Inc. The borrower is a special purpose vehicle that buys custom chips developed by Google and Broadcom, and leases them out to Anthropic. Representatives for Apollo and Blackstone declined to comment. The bonds were being offered between about 100 cents and 100.5 cents on the dollar, according to some of the bank quotes for the trade seen by Bloomberg. The debt deal reflects how financing for the artificial intelligence buildout spans public and private credit markets — or a mixture of the two — as capital spending shows no signs of abating and tech companies race to expand their AI footprint. The transaction uses a delayed draw format, where the borrower can draw on the money raised when it needs it, in about 16 separate releases over more than a year as the chips become available. Once parts of the debt are drawn, they can be traded in the 144a market, which is where qualified investors including insurers and mutual funds can buy and sell debt securities, sources have previously said. Apollo launched its trading operation in late 2024 and has been poaching from Wall Street banks to bolster the effort. The firm traded $15 billion of private assets through the end of the first quarter. Most Read from Bloomberg Businessweek