NEW YORK and CHARLOTTE, N.C. and PALO ALTO, Calif., Oct. 26, 2026 /PRNewswire/ — Bank of America (NYSE: BAC), Blackstone (NYSE: BX), Citi (NYSE: C) and Morgan Stanley (NYSE: MS) (the “Lead Financial Partners”) today announced a $63 billion transaction to enable the deployment of AI compute capacity, leveraging Broadcom Inc.’s (NASDAQ: AVGO) technology, for Anthropic. This transaction is part of the strategic compute capacity agreement previously announced by Broadcom, with expected deliveries starting in calendar 2027.

The transaction will be executed through a newly formed special purpose vehicle (“SPV”) with committed financing from the Lead Financial Partners to support the purchase of Broadcom XPU AI accelerators and networking solutions to be leased to Anthropic. The first lien portion of the financing is being arranged by Bank of America, Citi and Morgan Stanley, with Blackstone as the sole provider of the committed portion of the second lien financing. Broadcom is providing residual value support to the SPV for the amount equivalent to the first lien portion of the financing. This transaction highlights the deep collaboration across the AI technology and financial ecosystems.

Jon Gray, President and COO, Blackstone, said, “The rapidly growing demand for AI is creating an enormous opportunity to finance compute capacity at scale. We’re proud to help advance this buildout with Broadcom.”

Dan Simkowitz, Co-President of Morgan Stanley, said, “This transaction represents an important milestone in enabling the next buildout of AI compute capacity. Morgan Stanley has been at the forefront of innovation in designing scalable capital solutions for AI infrastructure, and we are proud to continue to advance new financing structures through this transaction.”

Vis Raghavan, Head of Banking and Executive Vice Chair at Citi, said, “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.”

Jim DeMare, Co-President of Bank of America, said, “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.”

Hock Tan, President and CEO of Broadcom Inc., said, “Today’s transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem. Fundamentally, the need for AI compute continues to grow at an extraordinary pace. This validates that there is capital available to finance such growth and that Broadcom is uniquely positioned to enable it.”

Kirkland & Ellis LLP is serving as legal counsel to Blackstone. Latham & Watkins LLP is serving as legal counsel to Bank of America, Citi and Morgan Stanley. Sullivan & Cromwell LLP is serving as legal counsel to Broadcom, with Evercore serving as financial advisor.

Additional information about the transaction is available on the Investors section of Broadcom’s website at https://investors.broadcom.com/.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s nearly $1.4 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi

About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit morganstanley.com.

About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a technology leader that designs, develops, and supplies semiconductors and infrastructure software for global organizations’ complex, mission-critical needs. Broadcom combines long-term R&D investment with superb execution to deliver the best technology, at scale. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

Broadcom Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). These statements include, but are not limited to, statements regarding the deployment of compute capacity through a SPV and the timing of the deployment. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions, and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, undue reliance should not be placed on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global political and economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; fluctuations in the timing and volume of significant customer demand; ability to make successful investments in research and development and successfully expand Broadcom’s business strategy or adopt Broadcom’s new business models; ability to continue winning business and the timing of such wins; dependence on contract manufacturing and outsourced supply chain; dependency on a limited number of suppliers; dependence on senior management and the ability to attract and retain qualified personnel; ability to protect against cybersecurity threats and a breach of security systems; ability to accurately estimate customers’ demand and adjust the manufacturing and supply chain accordingly; ability to improve manufacturing capacity and quality; involvement in legal proceedings; quarterly and annual fluctuations in operating results; Broadcom’s competitive performance; ability to maintain or improve gross margin; ability to protect Broadcom’s intellectual property and the unpredictability of any associated litigation expenses; significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.

Broadcom’s filings with the Securities and Exchange Commission (SEC) are available without charge at the SEC’s website at https://www.sec.gov and include some important risk factors that may affect future results. Broadcom undertakes no intent or obligation to publicly update or revise the forward-looking statements made in this announcement, except as required by law.

Contacts

Blackstone
Thomas Clements
thomas.clements@blackstone.com 
(646) 482-6088

Bank of America
Sheryl Lee
sheryl.lee2@bofa.com 

Citi
Lauren Teggelaar
lauren.teggelaar@citi.com

Morgan Stanley
mediainquiries@morganstanley.com 

Broadcom
press.relations@broadcom.com

Ji Yoo
Investor Relations
(650) 427-6000
investor.relations@broadcom.com 

(AVGO-Q)

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SOURCE Broadcom Inc.

SALEM, N.H., Oct. 26, 2026 /PRNewswire/ — Standex International Corporation (NYSE: SXI), a leading manufacturer of highly engineered components and systems, today announced that its Board of Directors has appointed Brenna D. Preisser, Executive Vice President and President of Brunswick Boat Group at Brunswick Corporation (NYSE: BC), as an independent director, effective January 1, 2027. Ms. Preisser will serve on the Board’s Compensation Committee and Innovation & Technology Committee.

Ms. Preisser will succeed B. Joanne Edwards, who will retire from the Board effective January 1, 2027, after eight years of service. Ms. Edwards currently serves as Chair of the Board’s Nominating and Corporate Governance Committee and as a member of its Innovation & Technology Committee. Ms. Preisser’s appointment is the result of a succession planning process led by the Nominating and Corporate Governance Committee. Following the transition, the Board will continue to consist of eight directors, seven of whom are independent.

“We are pleased to welcome Brenna to the Standex Board,” said David Dunbar, Chairman, President and Chief Executive Officer. “Her experience running a global manufacturing business and building new growth platforms, together with her deep background in talent development and executive compensation, will be valuable to our Board as we continue to scale our businesses and execute our growth strategy.”

“On behalf of the entire Board, I want to thank Joanne for her many contributions to Standex,” Mr. Dunbar added. “Her leadership of the Nominating and Corporate Governance Committee and her insight into growth strategy have strengthened our Board, and we are grateful for her thoughtful role in this transition.”

“I’m honored to join the Standex Board,” said Brenna Preisser. “Standex has a strong foundation of highly engineered products serving attractive end markets, and I look forward to working with David and my fellow directors to support the Company’s continued growth.”

Ms. Preisser brings more than 20 years of leadership experience at Brunswick Corporation, a global leader in recreational marine products. As Executive Vice President and President of Brunswick Boat Group since August 2024, she leads a $1.4 billion global portfolio of 18 boat brands and 11 manufacturing sites across the United States, Canada, Europe and New Zealand. Previously, as President of Business Acceleration, she scaled the recreational marine industry’s largest boat club and subscription platform, launched new ventures and led Brunswick Financial Services. She also served as Brunswick’s Chief Strategy Officer and Chief Human Resources Officer, giving her broad experience in strategy, M&A, executive succession and compensation. She holds a B.B.A. from Ohio University and an M.B.A. from Ashland University.

Ms. Edwards joined the Standex Board in 2018. She previously served as Senior Vice President and General Manager of the Residential and Wiring Device Division of Eaton Corporation and held a series of leadership roles at Eaton and Veris Industries.

About Standex

Standex International Corporation is a multi-industry manufacturer in four broad business segments: Electronics, Aerospace and Defense, Scientific, and Engraving & Hydraulics with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China. For additional information, visit the Company’s website at https://standex.com/.

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SOURCE Standex International Corporation

Enhancements give every partner a path to move first and fast in the AI era

News summary:

Cisco introduces Ecosystem Deal Registration alongside new incentives and AI-enabled tools for partners to recognize and support our ecosystem at every step of the deal.General availability of Cisco IQ for partners provides new profitability avenues and growth opportunities.Expanded Cisco Cloud Control offerings provide partners with new ways to build, secure, and manage AI-ready infrastructure.

VANCOUVER, BC, Oct. 27, 2026 /PRNewswire/ — AI is moving infrastructure to the center of enterprise investment, creating a critical market opportunity to modernize, scale, and secure the networks that power the AI era. To help its partners lead this transformation, today at Cisco Partner Summit, Cisco (NASDAQ: CSCO) unveiled new advancements across its partner program, customer experience offerings and technology portfolio, providing the tools and incentives required to capture this next wave of global connectivity growth.

Expanded incentives within the Cisco 360 Partner Program combined with the general availability of Cisco IQ for Partners address the demand for more agility and intelligence in the current environment. Cisco Cloud Control continues to bring it all together, giving Cisco partners, IT professionals and AI agents a platform where they can work together to connect, protect and run the critical infrastructure for the AI era.

“Our partners are where Cisco meets the customer, and the AI era is asking more of all of us,” said Tim Coogan, SVP, Global Partner Sales, Cisco. “Customers need partners with the agility to move first and fast. By combining the strength of the Cisco 360 Partner Program with Cisco IQ and Cisco Cloud Control, we’re giving every type of partner new ways to deliver that and be rewarded for it, from the advisor who shapes a decision to the partner who delivers and supports it.”

Powering an Agile Partner Ecosystem

Advisors, Developers, and Distributors increasingly shape what customers buy as well as how it’s delivered, and as the Cisco 360 Partner Program enters its first full year, the program has added dedicated paths for each of them. Additional enhancements span program experience, profitability and enablement for all partner types, empowering true ecosystem agility in the AI era, and rewarding the contributions of every partner.

Ecosystem Deal Registration: A new way for Advisors and Developers to be formally recognized for contributions that lead to transactions, validating partner impact across the customer lifecycle.  New growth paths: Advisor and Developer Partner Value Indexes (PVIs) are now available and a new unified Distributor PVI will be available by Spring of 2027, underscoring Cisco’s commitment to measuring partner contributions based on the unique value their role brings to the customer.Evolution of Cisco Partner Incentive (CPI) Rates: A continued investment in partner value exchange, increasing ACV growth reward by 50% as well as a 2x increase on Adopt for all use cases, as well as launching new adopt incentives on Cisco IQ.Additional +2% Cross-Sell Bonus: An incremental +2% on top of the existing cross-sell rebate for Preferred and Portfolio partners expanding customer accounts into net-new Cisco architectures, including Splunk.Cisco IQ Adopt Incentive: Designed to reward Partner adoption of Cisco IQ to ensure customers are onboarded and integrated with their telemetry.

Additionally, enhanced partner experience resources are now available to help partners differentiate and expand their offerings for customers:

Deal registration visibility in Partner Experience Platform (PXP): Automated, real-time insights to optimize pipeline health and enable partners to identify growth opportunities.Advanced Trend Analysis and Eligibility Tracking: New PVI APIs enable partners to optimize their business outcomes and proactively manage their performance.On-demand agentic resource: The One Cisco Content Agent (beta) makes it easy for partner sellers and marketers to quickly access approved Cisco content and customize value propositions for every customer tailored to specific priorities and industry trends, creating relevant co-branded presentations in minutes rather than hours.New CPI Deal Estimator: Empowers partners to model deal economics and optimize rebate yield across every opportunity.New OT certification: To reflect the growing convergence of IT, OT, and security, Learn with Cisco is launching a new Cisco OT Security Practitioner certification and releasing Cisco Modeling Labs 2.11 with new hands-on lab capabilities.

Cisco IQ: New Partner Opportunities for Profitable Services

Customers crave the ability to better understand their IT environments, intuitively identify risk, and quickly act before issues impact business outcomes. Partners need that same level of visibility so they can deliver more relevant, higher-value services to customers and propose modernization opportunities. Today, Cisco is announcing the general availability of Cisco IQ for Partners, empowering its global partner ecosystem to drive repeatable, high-margin growth across both managed services and reseller models. With more than 16,000 customers, and with visibility across close to 20 million devices since April 2026, the extension of Cisco IQ to partners provides new opportunities for growth after deal closure:

Deliver differentiated managed services: With Cisco IQ MCP Server and expanded API access, partners can seamlessly integrate intelligence into their own professional services, workflows, and AI agents. This enables partners to instantly query customer estates so they can address short term risks like emerging AI-powered threats, while helping customers plan for infrastructure modernization.Secure, automated capabilities for Resellers: Through new Role-Based Access Control (RBAC) in Cisco IQ, customers can grant partners direct, secure visibility into their installed base. This transforms resellers into intelligence-led partners who can leverage real-time data and APIs to operate at machine scale—spotting hidden network risks, eliminating manual exports, and proactively driving customer modernization.

Cisco is also introducing new Cisco IQ capabilities for customers and partners:

New AI-Powered Quantum Safe and Software End of Vulnerability Support (EoVS) playbooks to help identify risks beyond routine patching.Priority Bugs & Software Conformance Assessments to spot outage risks, prioritize remediation, and scope upgrades or hardening services.Frictionless Cisco Cloud Control integration surfacing real-time risk intelligence, including quantum-readiness status, and enabling one-click action on at-risk, controller-managed devices directly within Cloud Control.Cisco IQ AI Assistant enhancements based on rich contextual real-time data with troubleshooting now informed by device diagnostics and Cisco Technical Assistance Center (TAC) knowledge. Simplified TAC case management means you can create, close, and escalate a TAC case from within the AI Assistant.

“For too long, partners walked into customer conversations without the same view Cisco had. That changes today,” said Liz Centoni, EVP and Chief Customer Experience Officer, Cisco.

“With Cisco IQ Partner Support Standard, partners get that same intelligence under their own brand, delivered through their own experts. It’s their name. Their customer relationship. Their services practice. Cisco IQ is the engine. Partners are the business.”

Resilient, Secure, and AI-Ready Infrastructure Innovations

As enterprises scale AI agents across wired and wireless networks, they face mounting risks from downtime, visibility gaps, and identity-based threats. Cisco Cloud Control addresses these challenges by providing a shared, unified operations platform for teams and AI agents to secure and manage critical infrastructure across IT domains. To further enable machine-speed collaboration and automation, we are introducing new AgenticOps capabilities to Cloud Control, including:

Model Foundry: A new platform service in Cisco Cloud Control for putting Cisco’s purpose-built models to work — discovering, evaluating, fine-tuning, and running them on your own data, all in one place. Model Foundry is also the exclusive home of Cisco’s newest model versions and weights before broader release. Controlled Availability begins with Cisco partners.ThousandEyes intelligence for trusted autonomous operations: Cisco is integrating ThousandEyes natively into Wi-Fi 6E and 7 access points, included with eligible Cisco Networking Essentials and Advantage licenses. With nothing additional to buy, deploy, or configure, always-on ThousandEyes enables automated background testing that is designed to validate application and network performance around the clock even when no users are online and strengthens customer trust in agentic actions.Agentic integration: Cisco is introducing Model Context Protocol (MCP) servers for its networking platforms, which act as a standardized bridge that allows AI tools to easily access live network data. This removes the need for partners to build and maintain complex custom connections, making it simpler to create automated workflows for tasks like troubleshooting and reporting, while helping IT teams identify and resolve issues faster by linking deep telemetry directly to actionable experience metrics.

“The future of infrastructure operations is agentic, and it requires a platform that combines shared context, purpose-built models, and clear guardrails. Cisco Cloud Control is that platform,” said Jeetu Patel, President and Chief Product Officer, Cisco. “With the new Model Foundry, we’re advancing the state of the art in AgenticOps further. Enabling partners to fine-tune and customize Cisco’s models for their customers’ environments will make them integral to how their customers connect, protect, and run their infrastructure.”

To deliver the hardened physical and digital foundation required to connect, power, and protect mission-critical workloads for the long term, Cisco is introducing new resilient and quantum-safe innovations, including:

Extending quantum readiness across wireless networks: Cisco is launching the industry’s first Wi-Fi 7 access point with quantum-resilient capabilities. This is the latest addition to the most comprehensive quantum-resilient networking portfolio, spanning wireless, switching, and routing, enabling partners to deliver quantum-readiness assessments and future-proof customer infrastructure investments well into the next decade. For quantum-safe communications with Post Quantum Cryptography over the air, Cisco provides Qualcomm Technologies-powered access points while the complete client-side solution is supported by an Intel Wi-Fi chipset and driver and Microsoft for Windows software.Expanded support for Live Protect: Live Protect reduces the gap between vulnerability disclosure and patch completion on supported Cisco platforms and releases. Live Protect is now supported on N9000 Series Switches, N9300 Smart Switches, Catalyst SD-WAN, C9000 Series Smart Switches, and CW9800 Wireless Controllers. Support on Cisco 8000 Secure Routers and Cisco Firewalls is intended to be available by the end of 2026.Privileged infrastructure access: Being developed in collaboration with Teleport, Cisco Privileged Infrastructure Access gives network teams and AI agents fast, governed, task-specific access to Cisco routers and switches, with short-lived, identity-bound certificates. Sessions are recorded, and privilege expires when the session ends.

Supporting Quotes

“Ecosystem Deal Registration is an important step forward in recognizing the value partners like Deloitte create throughout the customer lifecycle, from shaping opportunities and defining solutions to helping customers realize value. By making these contributions more visible, Cisco is creating stronger foundations for collaboration and shared growth.” — Filipe Gomes Leonardo, Associate Partner – Cyber and Telecom Networks, Deloitte”We are excited about Cisco’s continued innovation and look forward to Cisco Partner Summit. With expanded partner access to Cisco IQ, we can build lifecycle integrations and professional services that turn reactive analysis into proactive insight. Together, we help clients manage risk, plan upgrades and get more value from every dollar they spend,” said Kevin Corace, Senior Vice President, Software and Services Lifecycle, Presidio.”As our enterprise customers scale AI workloads and high-density wireless environments, the network must evolve from simple connectivity into an active, self-defending platform. Cisco’s innovations embed industry-leading security and continuous visibility directly into the physical infrastructure our customers need. Combined with NTT DATA’s Agentic Operations, this creates an intelligent operating environment that can sense, predict and act, proactively addressing experience degradation and securing mission-critical operations before disruption occurs.” – Dilip Kumar, President and Global Head Infrastructure Solutions, NTT DATA, Inc.

Read more in our executive blogs:

Cisco IQ is the Engine. Partners are the Business (Liz Centoni)Empowering Our Partners to Win in the Agentic AI Era (Steve Clayton) You Asked for More Money and More Time. Here’s Both. (Tim Coogan)

About Cisco

Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry leading AI-powered solutions and services, Cisco enables its customers, partners and communities to unlock innovation, enhance productivity and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all. Discover more on The Newsroom and follow us on X at @Cisco.

Disclaimer: Some products or features described may be in various stages of development and offered on a when-and-if available basis.

SOURCE Cisco Systems, Inc.