Blackstone, banks line up $63B to fund Broadcom AI chips for Anthropic
What's the deal? Blackstone, Bank of America, Citi, and Morgan Stanley have formed a $63 billion financing structure to fund purchases of Broadcom AI equipment. A newly created special purpose vehicle will buy Broadcom accelerators and networking gear, then lease it to Anthropic, with deliveries expected to start in calendar 2027.
How is it structured? The deal splits risk across lenders and the chip supplier. Bank of America, Citi, and Morgan Stanley are arranging the senior first-lien financing; Blackstone is the sole provider of the committed second-lien portion; and Broadcom is providing residual-value support equal to the first-lien amount.
Why now? The package forms part of Broadcom's previously disclosed compute agreement with Anthropic. It follows Anthropic's recent moves to lock in capacity through large commitments with Microsoft, Nscale, and SpaceX, as competition for AI compute intensifies.
How big is this? At $63 billion, the package ranks in the top 1% of US telecom post-IPO debt deals over the past four years, based on 94 comparable rounds. Broadcom has also reportedly held preliminary talks about financing custom-chip purchases for OpenAI, though those discussions remain unconfirmed.
The signal: The deal shows how debt is increasingly funding AI infrastructure, with banks, private capital, and chipmakers sharing risk to make massive buildouts financeable. Blackstone shares edged higher to $119.06 — a muted response that may reflect that this finances an already disclosed agreement, rather than a new customer win.
Read more: tradersunion.com
Image credit: Christopher Hsia
