Bank of America, Blackstone, Citi and Morgan Stanley announced a $63 billion AI compute financing transaction on October 26, 2026, to support the deployment of Broadcom technology for Anthropic. The arrangement will use a newly formed special purpose vehicle to purchase equipment and lease it to the AI company, with deliveries expected to begin in calendar 2027.

Key Takeaways

  • The announced transaction totals $63 billion and finances equipment to be leased to Anthropic.
  • Three banks are arranging first-lien financing; Blackstone is the sole provider of the committed second-lien portion.
  • Broadcom will provide residual value support equivalent to the first-lien financing amount.

AI compute financing divides lender roles

The announced AI compute financing structure provides committed financing through a special purpose vehicle, or SPV, to purchase Broadcom XPU AI accelerators and networking solutions. Anthropic will lease that equipment rather than purchase it directly under the described arrangement.

Bank of America, Citi and Morgan Stanley are arranging the first-lien portion of the financing. Blackstone is the sole provider of the committed portion of the second-lien financing. The announcement does not disclose the dollar amount of either tranche, so the $63 billion total should not be interpreted as Blackstone’s individual commitment.

Broadcom is providing residual value support to the SPV in an amount equivalent to the first-lien portion. That support is a separate element of the structure from the lenders’ financing commitments.

Deliveries are expected to start in 2027

The transaction forms part of a strategic compute capacity agreement previously announced by Broadcom. The October 26 announcement describes financing commitments and a structure to be executed; it does not establish that the equipment has already been delivered or the full transaction completed.

Broadcom identifies deployment and its timing as forward-looking statements subject to risks and uncertainties. Its cautionary language includes customer-demand fluctuations, dependence on contract manufacturing and suppliers, and trade restrictions. The expected calendar 2027 delivery start therefore remains a planned milestone, not a completed outcome.

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