On Monday, October 5, Eastern Time, media outlets cited sources familiar with the matter, stating that the $60 billion AI chip financing, led by Bank of America, Citi, and Morgan Stanley, has entered the syndication distribution phase. Approximately $42 billion of senior secured loans guaranteed by Broadcom have already begun distribution. Leveraging Broadcom's A- credit rating, these loans could potentially enter the private placement or investment-grade bond market in the future. The remaining $18 billion in subordinated debt, not guaranteed by Broadcom, will be launched later, with Blackstone having committed to subscribe to approximately $9 billion of it. This funding will support Anthropic's lease of Google TPU chips, corresponding to its chip orders for 2027. Rating agencies have issued warnings regarding Broadcom's large-scale off-balance-sheet guarantees, suggesting they might obligate the company and restrict its financial flexibility.