Four financial firms commit $63 billion in chip financing for Anthropic

Four major financial firms have committed to providing $63 billion so that AI company Anthropic can obtain chips and networking equipment from Broadcom, Yahoo Finance reports. According to sources, the deal was announced on Monday, October 26, 2026.

The money comes from Bank of America, Citi, Morgan Stanley and the private equity firm Blackstone.

How the deal is structured

Anthropic is not buying the equipment directly. A newly created special-purpose entity, known as an SPV, will buy Broadcom's AI accelerators (XPUs) and networking products and lease them to Anthropic. An SPV is a company set up for one specific purpose.

The debt is split into two tiers. Bank of America, Citi and Morgan Stanley are arranging the first-lien portion, which has priority in getting its money back. Blackstone alone is providing the subordinated portion (second lien), which comes later in the order of repayment and is therefore typically riskier for the lender.

According to the analysis site Winzheng, the first-lien portion makes up about 69 percent, or roughly $43.5 billion. That figure has not been confirmed by a primary source.

Winzheng also writes that Broadcom provides so-called residual value support equal to the amount of the first-lien portion. That means the lenders are protected if the equipment loses value.

Deliveries from 2027

Deliveries of the hardware are expected to begin in 2027 under the previously announced computing capacity agreement. In that deal, Anthropic agreed with Google and Broadcom to obtain several gigawatts of next-generation TPU capacity. A TPU is a type of specialized chip for AI. The capacity is expected to come online from 2027.

In that announcement, Anthropic said its annual revenue run rate exceeded $30 billion, up from about $9 billion at the end of 2025.

Stock and assessments

Broadcom's stock rose about 1.3 percent in after-hours trading Monday following the announcement, according to Yahoo Finance. Broadcom's CEO said: "Fundamentally, the need for AI compute continues to grow at an extraordinary pace."

According to Winzheng, the announcement coincided with Anthropic filing an S-1 with the US Securities and Exchange Commission (SEC) for a Nasdaq listing. That information comes only from Winzheng.

Winzheng assesses that the structure lets Broadcom lend its creditworthiness to back the value of its own products, and that it could give Broadcom's chips an edge over Nvidia.

For ordinary users, the deal shows how much money is now being spent on securing the computing power that AI services run on.