Broadcom Lands $63 Billion AI Financing Deal for Anthropic Chips
As seen on the 24/7 Wall St. homepage on October 26, 2026.
Bank of America, Blackstone, Citi and Morgan Stanley Announce Landmark $63 Billion Financing Structure to Enable AI Compute Capacity in Partnership with Broadcom
Anthropic's XPU and networking order now has committed bank capital behind it: an SPV funded by four lenders will buy the Broadcom silicon and lease it out, with deliveries starting in calendar 2027. Broadcom is providing residual value support equal to the first lien portion, so shareholders get locked-in demand visibility with some tail exposure attached.
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A newly formed special purpose vehicle, backed by committed capital from Bank of America, Citi, and Morgan Stanley on the first lien and Blackstone as the sole provider of committed second lien financing, will purchase Broadcom XPU AI accelerators and networking solutions and lease them to Anthropic. Deliveries are expected to start in calendar 2027, giving Broadcom a long runway of locked-in demand for its silicon.
The structure is notable for how risk is distributed. Broadcom is providing residual value support to the SPV equivalent to the first lien portion of the financing, meaning Broadcom shareholders carry some tail exposure if the leased hardware depreciates faster than expected. In exchange, the company gets firm demand visibility at a scale that would be difficult to secure through conventional purchase orders alone.
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Blackstone President and COO Jon Gray framed the deal as an opportunity created by AI's growth: 'The rapidly growing demand for AI is creating an enormous opportunity to finance compute capacity at scale.' Morgan Stanley Co-President Dan Simkowitz called it 'an important milestone in enabling the next buildout of AI compute capacity,' while Broadcom CEO Hock Tan said the transaction 'validates that there is capital available to finance such growth' and that Broadcom is uniquely positioned to enable it.
For investors watching Broadcom, the deal converts what might otherwise have been a lumpy, uncertain order pipeline into a structured, financed commitment. The SPV mechanism allows institutional capital to flow into AI infrastructure without Anthropic needing to purchase the hardware outright, a model built to be replicated for future compute buildouts if this structure performs as intended.