Gasoline stocks along the U.S. Gulf Coast have dropped to their lowest levels since September 2017.

According to the Wall Street Journal citing sources, Broadcom (AVGO.US) has been seeking over $50 billion in financing in recent weeks to jointly develop custom AI chips with OpenAI. Institutions such as Apollo and Blackstone have engaged in discussions to participate in the financing, which is still in its early stages and may see the total amount adjusted. The financing aims to cover several gigawatts of custom chip capacity for OpenAI, with completion expected as early as the end of this year. Internally, OpenAI refers to the chip project as "Nexus," with the first and second generation chips codenamed Jalapeño and Serrano, respectively. OpenAI and Broadcom had previously announced plans to jointly develop a 10-gigawatt custom chip system, scheduled for continuous deployment from the second half of 2026 through the end of 2029.

According to The Wall Street Journal, Oracle, Broadcom, and SpaceX are seeking debt agreements for AI chip procurement. Broadcom is arranging over 50 billions USD in funding for chips required by OpenAI. Oracle is in talks with Apollo and Goldman Sachs regarding chip financing. Recently, the Financial Times reported that SpaceX is seeking 40 billions USD in financing to purchase Nvidia chips. SpaceX plans to raise around 10 billions USD in bank loans, plus 30 billions USD in investment-grade bonds.

According to The Wall Street Journal, Broadcom (AVGO.US) is seeking over $50 billions in financing to develop custom AI chips for OpenAI.

The Dow Jones closed down 0.66%, the Nasdaq fell 0.22%, and the S&P 500 declined 0.22%. Among the most actively traded stocks, Micron Technology rose 4.06%, Nvidia dropped 0.74%, SanDisk gained 1.92%, and SpaceX fell 2.51%.