Four financial firms announce $63 billion AI compute financing structure with Broadcom

Financial partners announce $63 billion structure

Bank of America, Blackstone, Citi and Morgan Stanley announced on October 26 a $63 billion transaction to enable AI compute capacity for Anthropic using Broadcom technology. The transaction will be executed through a newly formed special purpose vehicle and will support the purchase of Broadcom XPU AI accelerators and networking solutions that are to be leased to Anthropic.

The announcement said Broadcom, Citi, Bank of America and Morgan Stanley are the lead financial partners for the structure. Bank of America, Citi and Morgan Stanley are arranging the first-lien financing, while Blackstone is the sole provider of the committed second-lien portion.

Broadcom provides residual support

Broadcom is providing residual value support to the special purpose vehicle equal to the amount of the first-lien financing. The announcement did not provide a detailed allocation of the $63 billion among the participating institutions or identify the specific cash recipients and asset-transfer parties for each financing component.

The transaction forms part of a previously announced strategic compute capacity agreement under which Broadcom expects deliveries to begin in calendar 2027.

Partners frame the financing as infrastructure capital

Jim DeMare, Bank of America’s co-president, said the transaction combines Broadcom’s technology with institutional capital to support AI compute infrastructure. Jon Gray, Blackstone’s president and chief operating officer, said the companies are helping finance compute capacity at scale.

Citi Head of Banking and Executive Vice Chair Vis Raghavan described the structure as a response to the capital requirements of AI infrastructure, while Morgan Stanley Co-President Dan Simkowitz said the transaction was an important milestone for financing additional compute capacity.

Broadcom President and CEO Hock Tan said the transaction showed capital was available to finance growing AI-compute demand and that Broadcom was positioned to enable that buildout.

Delivery remains future-facing

The announcement described the financing as committed, but the associated Broadcom hardware deliveries were expected to start in calendar 2027. As of the announcement, the structure was intended to support purchases and leases tied to future AI compute deployment; the supplied reporting did not establish that hardware deliveries had already occurred.