Bank of America, Citigroup, and Morgan Stanley launched a record $60 billion debt deal to fund Anthropic's lease of Google semiconductors, the Financial Times reported, citing people familiar with the matter.
This package is meant to test if investors are willing to take on more technology debt. Broadcom is partly backing the loans to lower borrowing costs for advanced chips. The funding is split into two parts. The first is $42 billion in secured loans backed by Broadcom's strong credit score. The second is $18 billion in junior debt without guarantees, where Blackstone has already agreed to cover half.
The money will pay for chip orders arriving in 2027, with lease payments starting after delivery. Anthropic could also use up to $42 billion in convertible notes to pay Broadcom, while lenders keep a close eye on market conditions and future financial reports.
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