Software

Bank of America, Citi, Morgan Stanley invest $63B into AI computing

Photo: Adobe Stock

October 27, 2026

Summarize with

Bank of America, Blackstone, Citi and Morgan Stanley have announced a $63 billion financing transaction to fund AI compute capacity for Anthropic using Broadcom Inc. technology, according to a press release.

The financing will be executed through a newly formed special purpose vehicle (SPV) to support the purchase and leasing of Broadcom XPU AI accelerators and networking solutions to Anthropic. Deliveries under the agreement are expected to begin in 2027.

"Advancing AI responsibly requires turning ambitious technology plans into tangible compute infrastructure. Bank of America's infrastructure financing expertise, advisory capabilities and broad capital solutions platform enable us to deliver innovative structures and mobilize institutional capital at scale. This transaction brings together Broadcom's leading technology and significant bank capital to accelerate the buildout of compute capacity that will power the next wave of AI innovation," Jim DeMare, co-presidnent of Bank of America, said in the release.

Under the financing structure, Bank of America, Citi and Morgan Stanley are arranging the first-lien portion of the debt, while Blackstone is serving as the sole provider of the second-lien financing. Broadcom is providing residual value support to the SPV equivalent to the first-lien amount.

"Financing AI demands capital solutions at unprecedented scale. Citi is proud to pioneer innovative structures and leverage our global capital markets structuring and distribution expertise to help accelerate the buildout of critical AI infrastructure that will power the future of technology for years to come," Vis Raghavan, head of banking and exexutie vice chair at Citi, said in the release.