Wall Street and Blackstone Provide $63B Financing for Anthropic's Broadcom AI Chip Procurement
Bank of America, Citi, Morgan Stanley, and Blackstone are providing $63 billion in debt financing to lease Broadcom AI accelerators and networking equipment to Anthropic via a Special Purpose Vehicle (SPV). This deal represents one of the largest AI infrastructure debt financings to date, with deliveries expected in 2027, highlighting the critical role of financial institutions in supporting frontier model compute expansion.
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October 27 — According to Reuters, Bank of America, Blackstone, Citi, and Morgan Stanley will provide $63 billion in financing (approximately RMB 420.679 billion at current exchange rates) for Anthropic to procure Broadcom’s AI chips and networking equipment. This transaction represents one of the largest debt deals related to AI compute infrastructure buildout to date.
As demand for artificial intelligence continues to surge, major tech companies are racing to stockpile computing power to support increasingly complex workloads, driving massive investment in computational infrastructure.
The involved parties stated on Monday that the deal will be executed through a newly established special purpose vehicle (SPV). This entity will purchase Broadcom’s AI accelerator chips and networking equipment and lease them back to Anthropic, the developer of Claude.
Bank of America, Citi, and Morgan Stanley are arranging the first-lien secured financing, while Blackstone is providing committed capital for the second-lien secured portion.
Broadcom is offering "residual value support" to senior debt lenders, effectively acting as a guarantor within this financing structure: it agrees to absorb losses from any decline in asset value, capped at the amount of the first-lien debt. However, the announcement did not disclose the specific size of this tranche.
The companies noted that the equipment is expected to begin delivery in 2027, forming part of a previously announced strategic compute supply agreement involving Broadcom.
Prior to this, Apollo and Blackstone had already reached an agreement with Broadcom to invest $35 billion (approximately RMB 233.711 billion at current exchange rates) to expand Anthropic’s AI computing capacity.
This latest transaction highlights the growing role played by banks and alternative asset managers in financing the infrastructure required to meet expanding AI compute demands.
Anthropic filed for an IPO on Monday, which could potentially set records; however, disclosures regarding substantial losses and security risks may test investors' willingness to back the AI giant.