Bank of America, Blackstone, Citi and Morgan Stanley on Monday announced a $63 billion financing to buy Broadcom AI chips and networking equipment that will be leased to Anthropic, according to a press release distributed by Broadcom.
The deal will be executed through a newly formed special purpose vehicle that will purchase Broadcom XPU AI accelerators and networking solutions “to be leased to Anthropic,” the release said. Expected deliveries start in calendar 2027, under the strategic compute capacity agreement Broadcom announced earlier.
How the deal is structured
Bank of America, Citi and Morgan Stanley are arranging the first lien portion of the financing. Blackstone is the sole provider of the committed portion of the second lien financing, according to the release.
Broadcom is providing residual value support to the SPV for an amount equal to the first lien portion. Reuters described that support as effectively a guarantee to senior lenders, under which Broadcom agrees to absorb potential declines in the value of the assets up to that amount. Reuters noted the release did not disclose the size of the first lien debt.
The Wall Street Journal later reported that banks demanded better terms before committing $42 billion, and that Broadcom CEO Hock Tan agreed to higher interest rates and guarantees covering an Anthropic default, according to a free newsletter summary of the Journal’s report. That “guarantees” language is the Journal’s; the companies’ release described Broadcom’s role as residual value support equal to the first lien portion.
“Fundamentally, the need for AI compute continues to grow at an extraordinary pace,” Broadcom CEO Hock Tan said in the release. Anthropic was not quoted.
Larger than the earlier report
The $63 billion total is above the $60 billion debt package that the Financial Times reported on Oct. 5 and described as a record, when Bank of America, Citigroup and Morgan Stanley began syndicating loans tied to Anthropic chip leases, with Blackstone committing to a junior tranche. Monday’s release does not refer to that report or break out tranche sizes.
Anthropic’s IPO prospectus, filed publicly on Monday, describes a March 2026 equipment lease with Broadcom “to procure specialized AI accelerators and associated components (under which Broadcom intends to assign to a designated financial partner).” The S-1 also says Anthropic can issue up to $42.0 billion in convertible notes to Broadcom or a designated financial partner to finance obligations under that lease. The filing does not name the banks or Blackstone or cite a $63 billion figure.
Reuters said Apollo and Blackstone had earlier agreed to finance a $35 billion expansion of Anthropic’s computing capacity under a prior agreement with Broadcom.
Sources
- Broadcom / PR Newswire: Bank of America, Blackstone, Citi and Morgan Stanley Announce Landmark $63 Billion Financing Structure to Enable AI Compute Capacity in Partnership with Broadcom (October 26, 2026)
- Reuters via Investing.com: Wall St banks, Blackstone line up $63 billion to finance Broadcom AI chips for Anthropic (October 26, 2026)
- Anthropic PBC Form S-1, SEC EDGAR (October 26, 2026)
- The Wall Street Journal / The 10-Point free newsletter summary: Inside the 11th-Hour Scramble to Save Anthropic’s Debt Deal (October 27, 2026; full feature unread)