Wall Street lenders and Blackstone commit $63 billion for Anthropic's Broadcom chip buy

what happened

According to Reuters, citing the companies, Morgan Stanley, Citi, Blackstone and Bank of America will supply $63 billion to fund purchases of Broadcom's AI accelerators and networking hardware, which will then be leased to Anthropic. The deal ranks among the biggest debt transactions linked to expanding AI infrastructure.

The structure runs through a newly formed special purpose vehicle that will buy the equipment from Broadcom and lease it to the maker of Claude. Citi, Bank of America and Morgan Stanley are arranging first-lien financing, while Blackstone is committing part of the second-lien tranche. Broadcom is offering residual value support to senior lenders, effectively guaranteeing them against declines in asset value up to the size of the first-lien debt, which was not disclosed. Deliveries are due to start in 2027.

On Monday, Anthropic also filed for a potentially record-breaking IPO, though disclosures of steep losses and security concerns could test investor appetite for the company.

why it matters

The deal shows banks and alternative asset managers taking a larger role in funding computing capacity as AI demand climbs. Apollo and Blackstone had earlier agreed to finance a $35 billion expansion under a prior Broadcom arrangement, so this kind of structure may become more common. Investors will weigh both the size of the debt and the guarantee Broadcom is providing.

market impact

Broadcom and lenders: debt-funded AI buildout supports chip demand and credit exposure tied to Anthropic

tags

instruments