Wall Street’s $63 Billion Bet: Banks and Blackstone Team Up to Power Anthropic’s AI Ambitions

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Bank of America, Blackstone, Citi and Morgan Stanley have agreed to provide $63 billion in financing to buy Broadcom AI chips and networking equipment for Anthropic, in one of the largest debt deals yet tied to the global AI buildout.

The financing will run through a newly formed special purpose vehicle, or SPV, which will purchase Broadcom XPU AI accelerators and networking solutions and lease them to Anthropic.

Bank of America, Citi and Morgan Stanley are arranging the first-lien, or senior, portion of the financing. Blackstone is the sole committed provider of the second-lien portion, which ranks below senior debt.

Broadcom is also providing residual value support to the SPV equal to the first-lien portion, effectively backstopping part of the financing tied to the long-term value of the equipment.

The deal underscores how the race to build AI systems has become a capital-intensive infrastructure business. Anthropic will gain access to large-scale computing capacity, while Broadcom secures a major customer for its AI hardware and Wall Street gains a new class of technology-backed lending.

The financing is expected to support the deployment of 1.7 gigawatts of AI compute capacity using Broadcom technology for Anthropic.

The announcement came on the same day Anthropic filed publicly for an initial public offering. The company reported $16.3 billion in revenue for the first half of 2026, alongside a large net loss driven largely by changes in the value of financial instruments.

Anthropic’s filing also highlighted its enormous future compute commitments, with CNBC reporting roughly $417 billion in obligations and an additional $125 billion to $150 billion expected from capacity deliveries between 2028 and 2031.

Broadcom shares rose about 0.6% in after-hours trading following the announcement.

Broadcom CEO Hock Tan said the need for AI compute “continues to grow at an extraordinary pace,” adding that the deal shows capital is available to finance that growth. Blackstone President Jon Gray called rising AI demand an “enormous opportunity” to finance compute capacity at scale.

The transaction signals that Wall Street is increasingly willing to fund the physical backbone of artificial intelligence—chips, data centers and networking gear—on a scale once reserved for major infrastructure projects.