Bank of America, Blackstone, Citigroup, and Morgan Stanley announced a $63 billion financing transaction supporting the acquisition of Broadcom AI accelerators and networking equipment for Anthropic.
The arrangement uses a newly established special-purpose vehicle (SPV) that will purchase the hardware and lease it to Anthropic, with deliveries expected to begin in 2027.
Bank of America, Citi, and Morgan Stanley will arrange first-lien financing, while Blackstone will provide the committed portion of second-lien financing.
Broadcom will provide residual-value support equivalent to the first-lien financing amount, although the announcement does not disclose the complete economic terms or the size of that first-lien portion. Blackstone
Primary source: Blackstone — Official $63 Billion Financing Announcement, October 26
Why it matters strategically
The transaction illustrates a major change in the financing of advanced computing infrastructure.
Historically, technology companies have financed much of their computing infrastructure through internal cash flow, corporate borrowing, or conventional leasing.
This arrangement distributes financial obligations across several parties.
Anthropic obtains access to computing capacity.
The SPV owns the equipment.
Banks and alternative asset managers provide financing.
Broadcom supplies the technology while accepting a defined residual-value obligation.
These arrangements could expand access to computing capacity without requiring the AI developer to purchase all the equipment directly.
However, the economic risks do not disappear.
They are redistributed.
