Bank of America, Blackstone, Citi, Morgan Stanley Arrange $63 Billion Financing for Broadcom AI Chip Lease to Anthropic

Bank of America, Blackstone, Citigroup and Morgan Stanley announced on October 26 a $63 billion financing arrangement to fund Anthropic's use of Broadcom (AVGO) AI chips and networking equipment, part of a previously disclosed Broadcom strategic compute deal expected to begin deliveries in 2027. Under the plan, the four institutions will lend through a newly formed special purpose vehicle that buys Broadcom XPU AI accelerators and networking gear and leases them to Anthropic, giving the AI developer usage rights without direct ownership. The facility is tiered by seniority: BofA, Citi and Morgan Stanley arrange first-lien secured financing, while Blackstone solely provides committed second-lien secured financing. Broadcom will supply residual-value support to the SPV equal to the first-lien amount, tying the chipmaker to the financing structure beyond equipment sales. The announcement did not disclose tranche sizes, interest rates or lease terms.