Wall Street banks and Blackstone are lining up $63 billion to finance Broadcom chips for Anthropic

Bank of America, Blackstone, Citi and Morgan Stanley announced on Monday a $63 billion financing to enable AI compute capacity for Anthropic using Broadcom technology. Reuters called it one of the largest debt deals tied to the AI buildout. The money will fund purchases of Broadcom XPU AI accelerators and networking equipment that will be leased to Anthropic.

The structure runs through a newly formed special purpose vehicle. According to the companies' release, the vehicle will buy the Broadcom hardware and lease it to Anthropic. Bank of America, Citi and Morgan Stanley are arranging the first-lien portion, and Blackstone is the sole provider of the committed portion of the second-lien financing. Reuters, citing two sources, puts the first-lien debt at about $43.5 billion, or 69% of the total.

Broadcom is providing what the release calls residual value support to the vehicle. Reuters describes this as effectively a significant guarantee for lenders. The release says the deal is part of a strategic compute capacity agreement Broadcom announced earlier, with deliveries expected to begin in calendar 2027. Law firm Latham, which advised the lead partners, says the transaction supports more than 1.6 gigawatts of AI compute capacity for Anthropic.

The path there was reportedly bumpy. The Wall Street Journal reported that Broadcom CEO Hock Tan spent nearly two months trying to get banks to commit more than $40 billion, and Yahoo Finance reported that some lenders weighed walking away from what it called Project North Star. According to Yahoo Finance, Tan held weekend talks with bank executives, agreed to higher interest rates and gave the banks more comfort on Broadcom's guarantee. These are reports, not confirmations from the companies.

The timing is notable. Reuters points out that the financing arrived the same day Anthropic made a record-scale IPO filing public. It also highlights the growing role of banks and alternative asset managers in paying for AI infrastructure.

For developers, this is the plumbing behind model capacity. The chips are being built with Google, per the Wall Street Journal, and the financing lets Anthropic lease rather than buy them outright. More available compute from 2027 could ease supply limits on the models you call through an API, though nothing in the sources promises price changes. The next thing to watch is whether the vehicle closes as described.

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