NEW YORK / RankWire.AI / – Four major financial firms have committed $63 billion to fund AI computing hardware from Broadcom for Anthropic. Bank of America, Blackstone, Citi and Morgan Stanley unveiled the transaction on Monday, October 26. The deal forms part of a strategic compute capacity agreement that Broadcom announced earlier. Hardware deliveries are scheduled to start in 2027. The financing is among the largest debt packages linked to the expansion of artificial intelligence.
A newly created special purpose vehicle will hold the committed financing and buy Broadcom’s XPU AI accelerators and networking equipment. That equipment will be leased to Anthropic. Bank of America, Citi and Morgan Stanley are arranging the first lien debt. Blackstone alone is providing the committed part of the second lien financing. Broadcom is offering residual value support equal to the first lien amount, protecting lenders if the equipment loses value.
Reuters reported that senior first lien loans make up about $43.5 billion, or 69% of the total, citing two sources familiar with the matter. The companies did not publish that figure. Broadcom provided a backstop of up to $29 billion in an earlier transaction, according to a regulatory filing. Chipmakers have previously offered such guarantees to cover potential drops in asset values. Broadcom is based in Palo Alto, California.
Lenders and Broadcom cite AI growth
Jon Gray, Blackstone’s president and chief operating officer, said surging AI demand creates a large opportunity to finance compute at scale. Morgan Stanley’s Dan Simkowitz described the transaction as a milestone for AI compute capacity. Citi’s Vis Raghavan said AI financing calls for capital solutions on an unprecedented scale. Jim DeMare of Bank of America said the bank can mobilize institutional capital at scale for such projects.
Broadcom CEO Hock Tan said demand for AI compute continues to grow at an extraordinary pace. Tan said the deal shows capital is available to fund that growth and that Broadcom is well placed to enable it. Broadcom earlier agreed a $30 billion chip deal with Apple for US production. Evercore is advising Broadcom, with Sullivan & Cromwell as legal counsel. Kirkland & Ellis and Latham & Watkins represent the lenders.
Deal arrives as Anthropic files for IPO
Anthropic filed for its initial public offering on the same Monday. The AI developer reached a $965 billion valuation following a Series H round earlier in 2026. Apollo and Blackstone had already agreed to finance a $35 billion expansion of Anthropic’s computing capacity under a previous agreement with Broadcom. The new structure adds a further layer of funding for the company’s growing infrastructure needs.
Moody’s called Broadcom one of the strongest large technology companies. The rating agency warned, however, that risks would increase if many similar deals were completed in a short period to meet frontier AI labs’ funding needs. Deliveries of the Broadcom accelerators and networking gear are expected to begin in 2027. The deal underscores how banks and private capital firms are moving to finance the AI buildout.