Blackstone, an alternative asset manager, two renowned US banks, namely Bank of America, and Citi, and Morgan Stanley, a global financial services firm, have announced a US$ 63 billion financing deal to fund AI computing infrastructure for Anthropic, using Broadcom’s AI accelerators and networking technology.
According to a press release, the deal arrangement involves a special purpose vehicle (SPV) to execute the transaction. Bank of America, Citi and Morgan Stanley will provide the first-lien financing, while Blackstone provides the committed second-lien financing. Broadcom’s obligation is to provide support for the AI computing capacity expansion intended by Anthropic.
“Advancing AI responsibly requires turning ambitious technology plans into tangible compute infrastructure,” said Jim DeMare, Co-President, Bank of America. “This transaction brings together Broadcom’s leading technology and significant bank capital to accelerate the buildout of compute capacity that will power the next wave of AI innovation.”
Jon Gray, President and COO, Blackstone, said, “The rapidly growing demand for AI is creating an enormous opportunity to finance compute capacity at scale. We’re proud to help advance this buildout with Broadcom.”
Vis Raghavan, Head of Banking and Executive Vice Chair, Citi, said, “Financing AI demands capital solutions at unprecedented scale. Citi is proud to pioneer innovative structures and leverage our global capital markets structuring and distribution expertise to help accelerate the buildout of critical AI infrastructure that will power the future of technology for years to come.”
Dan Simkowitz, Co-President, Morgan Stanley, said, “This transaction represents an important milestone in enabling the next buildout of AI compute capacity. Morgan Stanley has been at the forefront of innovation in designing scalable capital solutions for AI infrastructure, and we are proud to continue to advance new financing structures through this transaction.”
Hock Tan, President and CEO, Broadcom, said, “Today’s transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem. Fundamentally, the need for AI compute continues to grow at an extraordinary pace. This validates that there is capital available to finance such growth and that Broadcom is uniquely positioned to enable it.”
Deliveries are expected to begin in 2027 under a previously announced compute capacity agreement between Broadcom and Anthropic. The commitment to this multi billion dollar deal was made shortly after Antropic filed for a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO) which is established to have a US$ 2 trillion dollar valuation.