A new special purpose vehicle will buy Broadcom accelerators and networking gear and lease them to Anthropic, with Broadcom providing residual value support equal to the senior debt; deliveries are due to start in 2027.
Bank of America, Blackstone, Citi and Morgan Stanley said on Monday they will provide $63 billion to fund AI computing capacity for Anthropic built on Broadcom technology. A newly formed special purpose vehicle will buy Broadcom XPU accelerators and networking equipment and lease them to Anthropic, under the compute agreement Broadcom announced earlier, with deliveries expected to begin in 2027. Bank of America, Citi and Morgan Stanley are arranging the first-lien financing, and Blackstone is the sole provider of the committed second-lien portion. Broadcom is giving the vehicle residual value support equal to the first-lien amount, which protects lenders against a fall in the value of the equipment. Reuters, citing two people familiar with the matter, put the first-lien debt at about $43.5 billion; the release did not give the split. The announcement came the same day Anthropic filed publicly for its IPO.
Sources: Joint release (PR Newswire) · Broadcom investor relations · Reuters (via Investing.com)