By Finimize Newsroom
Publication Date: 2026-10-26 21:23:00
seize and sell the gear; Blackstone is taking the riskier “second-lien” layer behind them. The twist is Broadcom’s “residual value support”: it’s promising to cover declines in the hardware’s resale value up to an amount equal to the first-lien debt, which makes the senior lenders less dependent on Anthropic’s cash burn. Reuters also pointed to a separate, earlier financing package led by Apollo and Blackstone for Anthropic’s computing buildout, a sign that banks and private-credit giants are increasingly acting like the balance sheet for AI infrastructure. That matters now because Reuters says Anthropic has filed for an IPO, and this structure can help it secure compute capacity without relying only on public markets.
Why should I care?
For markets: Broadcom’s backstop shifts a big slice of the $63 billion risk away from Anthropic.
This looks less like a straight loan to a money-losing AI startup and more like asset-backed lending: an SPV owns the equipment,…
