Bank of America, Blackstone, Citi, and Morgan Stanley announced on Monday, October 26, 2026, that they will provide $63 billion in financing to acquire artificial intelligence chips and networking hardware from Broadcom. The equipment is destined for Anthropic, the developer of the Claude AI model, marking one of the largest debt transactions related to the expansion of AI infrastructure.
The deal follows a June 2026 agreement in which Apollo and Blackstone committed $35 billion to expand Anthropic's computing capacity through Broadcom. This latest transaction involves a special purpose vehicle—a legal entity created for a specific financial objective—that will purchase Broadcom's AI accelerators and networking gear to lease them to Anthropic.
Bank of America, Citi, and Morgan Stanley are arranging the first-lien financing, while Blackstone is providing the committed second-lien financing. Broadcom is offering "residual value support," acting as a guarantor by agreeing to absorb potential losses if the assets lose value, up to an amount equal to the first-lien debt. Deliveries of the hardware are scheduled to begin in 2027.
An ordinary reader or retail investor in these companies would notice these figures reflected in the balance sheets of Bank of America, Citi, and Morgan Stanley as they take on the role of primary lenders. While the specific per-household impact is not reported, the multi-billion dollar commitment ties these major financial institutions to the long-term market value of AI hardware. Broadcom’s role as a guarantor means it bears the risk of the equipment losing value over time, which could impact its future financial statements if the hardware depreciates faster than expected.
The transaction sets a precedent for how private equity firms like Blackstone and traditional banks cooperate to fund the significant energy and hardware needs of the AI industry. The immediate next step for the companies involved is the commencement of equipment deliveries, which the sources state will begin in 2027. Markets will also monitor Anthropic's IPO process following its filing on October 26, which will provide more public data on the company's losses and security expenditures.