Four firms confirm $63 billion to lease Broadcom AI chips to Anthropic

The chip financing for Anthropic that we tracked as a report is now official, and bigger. Bank of America, Blackstone, Citi and Morgan Stanley announced a $63 billion deal on 26 October. A new company set up for the deal will pay for Broadcom AI chips and networking gear and lease them to Anthropic, with deliveries from 2027.

The sports picture is a stadium deal where the league also puts something behind the loan. Broadcom makes the chips, and it is giving the new vehicle residual value support for an amount equal to the first lien portion of the financing. The first lien is the part of the debt that gets repaid first. The release does not explain how that support works.

A plain example of the general idea: a car maker might promise to stand behind what a leased car will be worth later. We do not know whether Broadcom's support works that way, because the release does not say.

Two readings sit on the same facts. Hock Tan, President and CEO of Broadcom Inc., says in the release: "This validates that there is capital available to finance such growth." The release also shows a chip supplier giving support tied to its own customer's lease, and it gives no rate, term or dollar size for that support.

What would change this read: Broadcom putting a dollar figure on the support in a filing, the rate and term being disclosed, or the deal not closing.