Banks and Blackstone Back $63 Billion Chip Deal for Anthropic

Bank of America, Citigroup, Morgan Stanley and Blackstone announced a $63 billion financing deal on 26 October (local time) that will fund the purchase of Broadcom AI accelerators and networking equipment for lease to Anthropic, according to aitimes.com.

The deal is structured through a special purpose vehicle, or SPV, which will buy the Broadcom hardware and lease it to Anthropic.

Bank of America, Citigroup and Morgan Stanley are arranging about $43.5 billion in senior secured loans, roughly 69% of the total financing. Blackstone is taking a committed portion of the second-lien, subordinated loans. Broadcom will provide residual value support to the SPV covering the senior loan amount; the specific terms were not disclosed.

Hock Tan, Broadcom CEO, said AI computing demand keeps growing at an astonishing pace.

The arrangement lets Anthropic reduce upfront costs by leasing rather than buying equipment directly, while Broadcom supplies the hardware and backstops the financing. Equipment supply is set to begin in 2027 under a strategic computing capacity agreement between the two companies. The financing was announced the same day Anthropic published its IPO filing.

Earlier Anthropic capacity deals

In earlier arrangements, Apollo and Blackstone agreed to provide $35 billion to expand Anthropic's AI computing capacity, and NVIDIA announced a plan with six major financial firms, including Blackstone, to mobilize more than $500 billion for AI infrastructure.