Banks, Blackstone Line Up $63B to Finance Broadcom AI Chips for Anthropic

Bank of America, Blackstone, Citi and Morgan Stanley have announced a $63 billion transaction to finance artificial intelligence computing capacity for Anthropic, using a dedicated vehicle to purchase and lease Broadcom equipment.

The transaction forms part of a previously announced strategic compute agreement involving Broadcom, with deliveries expected to begin in 2027.

A newly formed special purpose vehicle will use committed financing from the financial partners to acquire Broadcom XPU AI accelerators and networking equipment for lease to Anthropic.

Bank of America, Citi and Morgan Stanley are arranging the first-lien financing, which is about $43.5 billion, or 69% of the total, according to Reuters. Blackstone is the sole provider of the committed portion of the second-lien financing. Broadcom will provide the vehicle with residual value support equivalent to the first-lien portion of the financing.

“Fundamentally, the need for AI compute continues to grow at an extraordinary pace,” Broadcom CEO Hock Tan said. “This validates that there is capital available to finance such growth and that Broadcom is uniquely positioned to enable it.”

The deal follows Anthropic’s public filing for an initial public offering. The company reported approximately $16.3 billion in first-half 2026 revenue and an $80.7 billion net loss, much of which reflected an accounting adjustment related to financing agreements.

Kirkland & Ellis is advising Blackstone. Latham & Watkins is counsel to the banks, while Sullivan & Cromwell is advising Broadcom. Evercore is Broadcom’s financial advisor.