Bank of America, Blackstone and Two Other Institutions Provide $63 Billion Financing for Anthropic's Broadcom Chips

October 27: According to a joint announcement by Bank of America, Blackstone, Citi and Morgan Stanley, the four institutions will establish a $63 billion financing structure to support AI compute capacity buildout. Under the arrangement, a newly established special purpose vehicle (SPV) will purchase Broadcom XPU AI accelerators and networking solutions and lease them to Anthropic for use; Bank of America, Citi and Morgan Stanley will arrange the first-lien financing, Blackstone is the sole funder of the second-lien portion, and Broadcom will provide the SPV with residual value support equal to the amount of the first-lien financing. The transaction is part of Broadcom's previously announced strategic compute agreement, with deliveries expected to begin in 2027.