Major Financial Institutions Announce $63 Billion Financing Deal for AI Compute Capacity
A consortium of leading financial institutions, including Bank of America (BAC), Blackstone (BX), Citi (C), and Morgan Stanley (MS), has announced a landmark $63 billion financing structure to expand AI compute capacity. The deal is designed to support Anthropic's infrastructure needs by utilizing Broadcom Inc.'s (AVGO) XPU AI accelerators and networking solutions through a newly formed special purpose vehicle (SPV). The transaction involves a multi-tiered debt structure where Bank of America, Citi, and Morgan Stanley are arranging the first lien portion, while Blackstone serves as the sole provider for the second lien financing. Broadcom will provide residual value support to the SPV equivalent to the first lien amount. Deliveries of the hardware are expected to begin in calendar year 2027.