Wall St banks, Blackstone line up $63 billion to finance Broadcom AI chips for Anthropic

What happened

Bank of America, Blackstone, Citi and Morgan Stanley will provide $63 billion in financing to buy Broadcom AI chips and networking gear for Anthropic. The deal uses a newly formed special purpose vehicle that will buy the equipment and lease it to Anthropic, with deliveries expected to begin in 2027.

Confirmed

Global impact / market context

This shows banks and investors funding AI hardware through borrowed money rather than Anthropic buying it directly. The special purpose vehicle, which means a separate company created for this deal, holds the equipment and leases it out, shifting risk and cost structures for lenders and the chip buyer.

Analyst inference

Large AI deals are increasingly financed with debt arranged by major banks, tying lenders to the AI buildout. Broadcom's guarantee to senior lenders, meaning it absorbs some asset value declines, reduces risk for first-lien lenders and may encourage more such chip financing deals.

Analyst inference

What to watch

1. Deliveries are expected to begin in 2027 under a previously announced strategic compute capacity agreement involving Broadcom, according to the companies. Confirmed
2. Watch whether the financing structure, including Broadcom's residual value support, is copied in future AI chip lease deals arranged by banks. Proposed
3. Monitor how the special purpose vehicle's lease payments and Broadcom's guarantee affect lender exposure and the cost of borrowing for AI hardware. Analyst inference

Evidence

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