Broadcom announces $63 billion financing to provide computing capacity for Anthropic starting in 2027
Key Facts
On October 26, Broadcom announced a $63 billion financing structure to provide AI computing capacity for Anthropic, with deliveries expected to begin in 2027. The deal links Anthropic’s demand for AI accelerators and networking solutions to financing and leasing arrangements, illustrating the scale of resources needed to expand the company’s computing infrastructure. Broadcom’s CEO said demand for AI computing “continues to grow at an extraordinary pace.” He added that the deal demonstrates the availability of capital to finance that growth. The plan comes as Anthropic expands its computing capacity through multiple arrangements, while the start of deliveries remains tied to the deal’s expected schedule.
The financing is split among four financial partners: Bank of America, Citi, Morgan Stanley and Blackstone. Bank of America, Citi and Morgan Stanley are arranging the senior tranche. Blackstone is the sole lender for the committed junior tranche. A special-purpose vehicle will buy Broadcom XPUs and networking solutions, then lease them to Anthropic. Broadcom will provide the vehicle with residual-value support equal to the value of the senior tranche, according to the company’s disclosure. The structure therefore includes a Broadcom commitment to support asset value alongside partner financing.
Revenue data cited by Reuters show Anthropic’s growth accelerated in the third quarter of 2026, with revenue rising 47% quarter over quarter to $16.96 billion. Quarterly growth had reached 144% in the second quarter, meaning its pace slowed in the following quarter as revenue continued to rise. The company’s commercial expansion provides the backdrop for financing tied to additional computing capacity. But Anthropic also disclosed that some computing providers and infrastructure partners depend on financing or credit support from third parties, which could affect contracted capacity. It said that capacity could be delayed, repriced, reduced or not delivered if financing becomes unavailable or more expensive. That places financing risks among the factors that could affect the fulfillment of computing commitments.
The deal fits a previously announced expansion plan from Broadcom in April, when it said Anthropic would begin accessing about 3.5 gigawatts of TPU-based computing capacity through Broadcom in 2027. The company linked use of that capacity to Anthropic’s continued commercial success. In June, Broadcom, Apollo and Blackstone launched a financing platform aimed at enabling more than 20 gigawatts by 2028. The platform began with an initial $35 billion tranche to support Anthropic’s expansion by more than a gigawatt, with deployment expected to begin in mid-2026. The $63 billion October deal adds another layer of financing to those arrangements. Broadcom’s CEO also said at a conference in Singapore that capital would be the company’s biggest constraint as AI continues to evolve, despite easing shortages of wafer chips and memory.
Broadcom’s third-quarter fiscal 2026 results showed strong growth in its AI semiconductor business, with revenue reaching $16.7 billion, up 221% year over year and 54% quarter over quarter. The company forecast revenue would rise to $21.7 billion in the fourth quarter of its fiscal year, up 236% annually. In the market, Broadcom shares rose about 4% in the October 27 session following the financing deal announcement. The stock closed at $293.69 on November 6, according to EL7 data. These figures link expected growth in computing demand with expansion in the chip business, while revenue from the new deliveries remains tied to their expected start in 2027.
In a parallel supply-chain expansion, Powertech’s board approved a $400 million investment in July in a joint venture with Broadcom in Singapore to develop advanced wafer-level chip assembly. The project focuses on additive finger-pattern redistribution-layer technology. Powertech said the project aims to meet international customer demand and expand cooperation across the semiconductor supply chain. According to a report by Taiwan’s Ministry of Economic Affairs, construction was expected to begin before the end of 2026, followed by commercial production in 2028. However, the timeline and final terms of the project remain subject to approval by Singaporean authorities. The project would add advanced manufacturing and packaging capacity to Broadcom’s plans, with its move to execution dependent on completion of those approvals.