An ad hoc structure funded by Bank of America, Citi, Morgan Stanley and Blackstone will purchase Broadcom accelerators for rent in Anthropic from 2027.
Broadcom announced on October 26 a $63 billion financial package to equip Anthropic. A special purpose company (SPV), created for the occasion, will use these funds to buy the manufacturer's XPU accelerators and network equipment, then lease them to Anthropic. The first deliveries are expected in 2027.
Banks and funds on the front line
Bank of America, Citigroup and Morgan Stanley arrange the senior debt, while Blackstone alone provides the second tranche. Broadcom guarantees a portion of the future value of the hardware (a "residual value guarantee"), which reduces the risk for lenders if the chips depreciate faster than expected.
The scheme allows Anthropic to access computing power without paying for it upfront, and Broadcom to gain ground against Nvidia, which had raised more than $500 billion in similar funding in August. The announcement, which has been in the works for several weeks, comes on the same day that Anthropic made public its IPO filing, and it is read as a test of Wall Street's appetite for AI infrastructure, despite growing opposition from data centers.
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