Lates News

According to the Financial Times, Bank of America, Citigroup and Morgan Stanley have begun distributing a $60 billion debt financing to other banks to support Anthropic's lease of Google (GOOG.O) AI chips, in what is the largest chip financing transaction to date. About $42 billion of it is a senior secured loan backed by Broadcom (AVGO.O), which launched syndication on Monday; another $18 billion of subordinated debt not guaranteed by Broadcom is expected to be launched later, with Blackstone having committed to fund about $9 billion of it. The proceeds will be used for Anthropic's 2027 chip orders, with lease payments to begin after the chips are delivered. Broadcom may also receive up to $42 billion in convertible notes from Anthropic to pay the related lease costs. The $60 billion financing is seen as an important transaction testing market demand for AI debt.