Banks and Blackstone line up $63 billion to finance Broadcom chips for Anthropic
A new financing vehicle will buy AI hardware and lease it to Anthropic, rather than leave the entire purchase with the AI company.
Bank of America, Blackstone, Citi and Morgan Stanley have announced a $63 billion financing structure to purchase Broadcom AI accelerators and networking equipment for Anthropic. The plan, announced Monday, places the hardware in a newly formed special-purpose vehicle that will lease it to the AI company.
That structure is the important detail. The financing supports a purchase of computing infrastructure; it is not the same thing as Anthropic raising $63 billion of equity. The special-purpose vehicle separates ownership of the equipment from the company using it.
Broadcom is also providing residual-value support for part of the financing. That adds a role for the chip supplier beyond simply selling hardware. It is worth distinguishing the financing commitment, the equipment purchase and the lease rather than treating them as one completed cash sale.
The deal adds to a week already focused on how the AI buildout is funded. Today's Toast & Tickers covers Meta's separate common-stock and depositary-share offerings. These are different arrangements, but they put the same question in front of readers: who supplies the capital, who owns the assets and who ultimately needs to earn a return on them?
