Broadcom (AVGO) to lend Anthropic up to $42 billion for AI Chips
Broadcom is reportedly preparing to lend Anthropic up to $42 billion to lease artificial intelligence chips, with the Claude developer projected to become the chip designer's top compute customer by 2027.
According to a Reuters report, Broadcom (AVGO) is reportedly preparing to lend Anthropic as much as $42 billion to lease its artificial intelligence chips. Citing Anthropic’s IPO prospectus, Reuters notes that Anthropic’s projected spending on Broadcom’s technology is expected to make the Claude developer the chip designer’s top compute customer by 2027.
The agreement grants Broadcom the option to involve a financing partner, and the notes feature a conversion option into Anthropic equity. In its filing, Anthropic stated that it anticipates no notes will be sold prior to the completion of its IPO. Additionally, Anthropic established a restricted account for Broadcom’s benefit in April 2026 and may be required to deposit supplementary funds depending on future conditions, as outlined by Reuters.
This development builds on an arrangement from April involving Anthropic, Broadcom, and Google, under which Google will supply Tensor Processing Unit (TPU) capacity to Anthropic. According to a press release, that supply is scheduled to become available in 2027. Reuters also reported on Thursday that, alongside the AI chip agreement, Anthropic is utilizing Broadcom for financing and equipment leasing.
Anthropic has drawn intense Wall Street scrutiny over the past few weeks following its decision to postpone its initial public offering to next year. While anxieties surrounding artificial intelligence and potential market bubbles fluctuate, both OpenAI and Anthropic acknowledged these risks last month, which further amplified concerns among investors. Meanwhile, Broadcom (AVGO) shares dipped 1.2% today and are down 1.7% over the past week.
