Bank of America, Blackstone, Citi, and Morgan Stanley announced on October 26, 2026, a $63 billion financing transaction through a newly formed special purpose vehicle to fund the deployment of AI compute capacity for Anthropic, leveraging Broadcom Inc. technology.

Key Highlights

  • $63 billion transaction: The four Lead Financial Partners committed financing through a newly formed SPV to purchase Broadcom XPU AI accelerators and networking solutions to be leased to Anthropic.
  • Lien structure: Bank of America, Citi, and Morgan Stanley are arranging the first lien portion of the financing, with Blackstone as the sole provider of the committed portion of the second lien financing.
  • Broadcom residual value support: Broadcom is providing residual value support to the SPV for an amount equivalent to the first lien portion of the financing.
  • Delivery timeline: Expected deliveries of compute capacity are scheduled to start in calendar 2027, according to the announcement.
  • Legal counsel: Kirkland and Ellis LLP is serving as legal counsel to Blackstone; Latham and Watkins LLP is serving as legal counsel to Bank of America, Citi, and Morgan Stanley; Sullivan and Cromwell LLP is serving as legal counsel to Broadcom, with Evercore as financial advisor.

$63 Billion SPV Structure to Finance Anthropic AI Compute via Broadcom Technology

According to the announcement, Bank of America (NYSE:BAC), Blackstone (NYSE:BX), Citi (NYSE:C), and Morgan Stanley (NYSE:MS), identified collectively as the "Lead Financial Partners," disclosed a $63 billion transaction on October 26, 2026, designed to enable deployment of AI compute capacity for Anthropic. The transaction is described as part of a strategic compute capacity agreement previously announced by Broadcom Inc. (NASDAQ:AVGO), with expected deliveries beginning in calendar 2027.

The filing states that the transaction will be executed through a newly formed special purpose vehicle. The SPV will use committed financing from the Lead Financial Partners to purchase Broadcom XPU AI accelerators and networking solutions, which will then be leased to Anthropic. The first lien financing is being arranged by Bank of America, Citi, and Morgan Stanley, while Blackstone is the sole provider of the committed portion of the second lien financing. Broadcom is providing residual value support to the SPV in an amount equivalent to the first lien portion.

Jim DeMare, Co-President of Bank of America, said, according to the announcement, "Advancing AI responsibly requires turning ambitious technology plans into tangible compute infrastructure." Hock Tan, President and CEO of Broadcom Inc., stated: "Today's transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem." The announcement includes forward-looking statements from Broadcom, which the company notes are subject to risks including global economic conditions, trade restrictions, customer demand fluctuations, and other factors that "may cause actual results to differ materially."

What Was Disclosed

Four major financial institutions announced a $63 billion SPV-based financing deal on October 26, 2026, to fund the purchase of Broadcom AI accelerators and networking solutions to be leased to Anthropic, with expected deliveries starting in calendar 2027.