According to a Reuters report, Broadcom (AVGO) is reportedly preparing to provide Anthropic with a loan of up to $42 billion to finance the leasing of its artificial intelligence chips. Citing Anthropic’s initial public offering prospectus, the report indicates that Anthropic’s projected spending on Broadcom’s technology will propel the Claude creator to become Broadcom’s largest compute customer by 2027.
Based on the agreement’s terms, Broadcom retains the right to introduce a financing partner, and the notes feature a conversion option into Anthropic equity. In its filing, Anthropic noted it anticipates no note sales prior to finalizing its IPO. Furthermore, Reuters states that Anthropic placed funds into a restricted account designated for Broadcom’s benefit in April 2026, and may be required to contribute additional funds depending on future developments.
This development builds on an arrangement from April, in which the Claude AI creator partnered with Broadcom and Google to secure Google Tensor Processing Unit (TPU) capacity. According to a press release, that supply is scheduled to go live in 2027. Reuters also reported on Thursday that, alongside the AI chip arrangement, Anthropic relies on Broadcom for equipment financing and leasing.
Anthropic has drawn intense Wall Street attention over the past several weeks following its decision to postpone its IPO until next year. While anxieties surrounding artificial intelligence and potential market bubbles fluctuate, both Anthropic and OpenAI acknowledged these concerns last month, intensifying apprehension on Wall Street. Meanwhile, Broadcom (AVGO) shares declined by 1.2% today and 1.7% over the past week.