Four major banks and financial institutions are lending $63 billion to AI company Anthropic for AI compute capacity using Broadcom technology.
The funding, from Bank of America, Blackstone, Citigroup, and Morgan Stanley, is part of the strategic compute capacity agreement previously announced by Broadcom,
The transaction will be executed through a newly formed special purpose vehicle with financing from the banks to support the purchase of Broadcom XPU AI accelerators and networking solutions to be leased to Anthropic.
The first portion of the financing is being arranged by Bank of America, Citi and Morgan Stanley. Blackstone is the sole provider of the committed portion of the second lien financing.
Broadcom is providing a financial guarantee for the amount equivalent to the first lien portion of the financing.
“The rapidly growing demand for AI is creating an enormous opportunity to finance compute capacity at scale. We’re proud to help advance this buildout with Broadcom,” Jon Gray, president and COO of Blackstone, said.
Deliveries of the hardware and AI chips to Anthropic’s data centers will begin in 2027.
“Advancing AI responsibly requires turning ambitious technology plans into tangible compute infrastructure. Bank of America’s infrastructure financing expertise, advisory capabilities and broad capital solutions platform enable us to deliver innovative structures and mobilize institutional capital at scale. This transaction brings together Broadcom’s leading technology and significant bank capital to accelerate the buildout of compute capacity that will power the next wave of AI innovation,” Jim DeMare, co-President of Bank of America, said.
This transaction highlights the deep collaboration across the AI technology and financial ecosystems.
“Today’s transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem. Fundamentally, the need for AI compute continues to grow at an extraordinary pace. This validates that there is capital available to finance such growth and that Broadcom is uniquely positioned to enable it,” Hock Tan, president and CEO of Broadcom, said.