Banks commit $63 billion to finance Broadcom chips bought by Anthropic

Bank of America, Blackstone, Citi and Morgan Stanley have committed $63 billion to fund Broadcom XPU accelerators and networking gear that Anthropic will lease. A newly formed special purpose vehicle will buy the hardware from Broadcom, with deliveries slated to start in 2027. Broadcom is supplying residual value support on the first-lien tranche. Reporting says some lenders had weighed backing out and that CEO Hock Tan agreed to higher interest rates and stronger loss protections to keep the deal intact. The financing lands alongside Anthropic's public IPO filing, which discloses large compute commitments to Broadcom.

1. Bank of America, Citi and Morgan Stanley are arranging the first-lien portion; Blackstone provides the second-lien financing.
2. A special purpose vehicle will buy Broadcom XPU AI accelerators and networking products and lease them to Anthropic.
3. Deliveries under the arrangement are expected to begin in 2027.
4. Broadcom provides residual value support for the first-lien amount.
5. Reports say Hock Tan agreed to higher interest rates and more guarantee comfort for lenders after some banks considered withdrawing.
6. Anthropic's IPO filing reportedly lists $161.2 billion of compute commitments to Broadcom, per an analyst's tally of the filing.