Anthropic Lines Up $63 Billion in Debt Financing for Broadcom Chips

A newly formed special-purpose vehicle will buy the Broadcom processors and networking gear, then lease them to Anthropic. Bank of America, Citigroup, Morgan Stanley and Blackstone are arranging the package, with about $43.5 billion in senior bank loans and a committed second-lien tranche from Blackstone. Broadcom is providing residual-value support that cushions lenders if the equipment loses market value. Deliveries are expected to begin in 2027 under an existing strategic computing agreement between the two companies. The reporting stresses that the figure does not mean Anthropic will spend $63 billion in cash. The disclosure arrives alongside the company's public S-1 filing, which reports $16.3 billion in first-half revenue alongside an $80.7 billion net loss. For founders, compute commitments are now financed like infrastructure assets. Lease structures spread payments over time, but they also tie debt to hardware that can lose value if demand softens or a newer chip ships. Any team signing multi-year accelerator contracts should model residual value and lease terms before committing.