Broadcom arranges $63B financing deal with banks and Blackstone for Anthropic AI chips

On October 26, 2026, Bank of America, Blackstone, Citigroup, and Morgan Stanley lined up $63 billion in financing to buy Broadcom AI accelerators and networking gear for Anthropic PBC. The transaction utilizes a special purpose vehicle funded by $43.5 billion in first-lien debt and second-lien debt from Blackstone. Broadcom provides residual value guarantees to lenders, backstopping asset values as financial institutions deepen their role in funding AI infrastructure.

Terms of the $63 billion deal

• ▪Under the $63 billion deal arranged by Broadcom and announced on October 26, 2026, a newly formed special purpose vehicle will purchase Broadcom equipment and lease it to Anthropic PBC
• ▪Deliveries of Broadcom artificial intelligence equipment to Anthropic PBC under the $63 billion financing deal arranged by Broadcom are scheduled to begin in 2027
• ▪Bank of America, Blackstone, Citigroup, and Morgan Stanley agreed to provide $63 billion in financing to purchase Broadcom artificial intelligence chips and networking gear for Anthropic PBC

Debt structure of the $63 billion financing

• ▪Blackstone committed to provide the second-lien debt portion of the $63 billion financing structure arranged by Broadcom for Anthropic PBC equipment
• ▪Bank of America, Citigroup, and Morgan Stanley are arranging the approximately $43.5 billion, or 69 percent, first-lien senior debt for the $63 billion Broadcom and Anthropic PBC equipment financing vehicle announced on October 26, 2026

Broadcom guarantees and credit risks

• ▪In a prior $35 billion Anthropic PBC financing deal with Apollo and Blackstone that preceded the $63 billion Broadcom deal, Broadcom provided a backstop guarantee of up to $29 billion
• ▪Moody's Ratings warned that Broadcom faces increased credit risk if it executes multiple large backstopped financing transactions in a short timeframe
• ▪Broadcom is providing residual value support to lenders in the $63 billion Anthropic PBC financing deal announced on October 26, 2026, offering a guarantee on asset values

Competition between Broadcom and nvidia

• ▪Broadcom is expanding artificial intelligence chip sales to challenge Nvidia Corporation in meeting computing capacity demand from model developers like Anthropic PBC
• ▪In August 2026, Nvidia Corporation partnered with six financial firms, including Blackstone, to mobilize over $500 billion for artificial intelligence computing infrastructure

Broader AI infrastructure financing trends

• ▪The $63 billion Broadcom financing transaction announced on October 26, 2026 adds to hundreds of billions of dollars in debt raised by financial institutions to fund artificial intelligence buildouts
• ▪Financial institutions are increasingly using equipment leasing and special purpose vehicles to fund advanced chips and data center infrastructure for artificial intelligence labs