Bank of America, Blackstone back $63 billion Anthropic Broadcom financing
Big names like Bank of America, Blackstone, Citi, and Morgan Stanley are putting together a massive $63 billion deal to get Broadcom's AI chips into Anthropic's hands.
Most of the money comes from loans, with Blackstone providing the committed portion of the second-lien financing, while Bank of America, Citigroup, and Morgan Stanley are arranging the first-lien financing.
New SPV to buy Broadcom equipment
This huge financing move is all about meeting the skyrocketing demand for AI computing power.
Starting in 2027, a newly formed special purpose vehicle will purchase Broadcom's AI accelerators and networking equipment and lease them to Anthropic.
It's part of a bigger trend: financial giants are betting big on the future of AI tech, though Moody's warned that the risk would increase if multiple transactions were undertaken over a short period to meet the sizable funding needs of frontier AI labs.