Banks arrange $63bn loan for Anthropic Google TPU purchases

Four banks have entered a $63 billion loan agreement to finance Anthropic’s purchase of Broadcom-developed Google Tensor Processing Units, DatacenterDynamics reported. The deal, called Project North Star, was organized by Broadcom and is part of a previously announced strategic compute capacity agreement. Delivery of the chips is expected to begin in 2027.

Bank of America, Blackstone, Citigroup and Morgan Stanley are providing the debt. The Wall Street Journal reported that Broadcom CEO Hock Tan spent two months arranging the financing and held talks with the banks over the weekend of October 24 and 25 to finalize commitments. The banks agreed to higher interest rates, and Broadcom offered guarantees to protect them if Anthropic defaults, the report said.

The financing will be issued through a newly formed special purpose vehicle. Bank of America, Citi and Morgan Stanley will arrange the first lien portion, while Blackstone will be the sole provider of the committed second lien financing, according to DatacenterDynamics. Broadcom will provide residual value support to the vehicle equal to the first lien amount.

Anthropic announced in April 2026 that it had signed a deal with Broadcom and Google for 3.5GW of Google TPUs, with capacity expected online from 2027. Anthropic said at the time that most of the new compute would be in the United States and part of its November 2025 pledge to invest $50 billion in US compute infrastructure.

Anthropic filed S-1 IPO paperwork on October 26, disclosing $417 billion in compute commitments as of December 2025. In the filing, the company said these "primarily consist of leases for compute equipment and data centers and purchase commitments with certain cloud providers, commencing between 2026 and 2027 with terms ranging from less than one year to 20 years". Anthropic reported revenue of $16.3 billion in the first half of 2026, up 1,300 percent, and a net loss of $80.7 billion, which included a $72.4 billion one-off accounting charge. Its operating loss narrowed to $693 million from $2.1 billion a year earlier, and it listed $6.2 billion in debt. Anthropic plans to list on Nasdaq under the symbol ANT.