Banks and Blackstone arrange $63 billion for Anthropic’s Broadcom equipment

A $63 billion financing package will fund Broadcom AI chips and networking equipment to be leased to Anthropic, with deliveries expected in 2027. Broadcom will provide lenders with a partial backstop tied to the equipment’s residual value, adding financial exposure alongside its role as supplier.

• Bank of America, Citigroup, Morgan Stanley and Blackstone are providing financing for a $63 billion purchase of Broadcom AI chips and networking equipment for Anthropic.· 1 source
• A newly formed special purpose vehicle will buy the equipment and lease it to Anthropic. Deliveries are expected to start in 2027.· 1 source
• The senior debt totals about $43.5 billion, according to two sources cited by Reuters. The three banks are arranging that financing, while Blackstone will provide the committed second-lien portion, which ranks below senior debt.· 1 source
• Broadcom is backing part of the financing through residual-value support. Moody’s warned that its risk could increase if it undertakes several such transactions in a short period.· 2 sources
• The Wall Street Journal reports that Broadcom CEO Hock Tan intervened to secure the agreement after spending nearly two months seeking more than $40 billion in bank commitments.· 1 source