Wall Street Giants Unveil $63B Financing to Lease Broadcom AI Accelerators to Anthropic

Bank of America, Blackstone, Citigroup and Morgan Stanley announced on October 26 that they will provide a total of $63 billion in financing through a newly created special purpose vehicle (SPV) to purchase Broadcom XPU AI accelerators and networking equipment, which will be leased to AI model developer Anthropic. Chip deliveries are expected to begin in 2027.

Under the deal's structure, Bank of America, Citigroup and Morgan Stanley are arranging senior financing, while Blackstone is the sole committed provider of junior financing. Broadcom is providing residual value support equivalent to the size of the senior financing, effectively backstopping senior creditors against declines in asset value.

Broadcom President and CEO Hock Tan said the transaction underscores continued growth in demand for AI compute and the availability of financing capital. Blackstone President Jon Gray, Morgan Stanley Co-President Dan Simkowitz, Citigroup banking head Vis Raghavan, and Bank of America Co-President Jim DeMare also commented on the deal, highlighting the rapidly expanding scale of AI infrastructure financing.

The agreement is part of the existing strategic compute arrangement between Broadcom and Anthropic. Apollo and Blackstone had previously arranged $35 billion in financing for Anthropic's compute expansion, and the new $63 billion deal builds on that foundation.