Broadcom is reportedly lending Anthropic up to $42 billion to lease AI chips, based on a prospectus IPO filing. Anthropic is expected to become Broadcom’s largest compute customer by 2027. The deal allows Broadcom to bring in a financing partner, and the notes could convert into Anthropic equity. Anthropic stated it does not expect any notes to be sold before it completes its IPO. Funds were placed in a restricted account for Broadcom’s benefit in April 2026. This follows a prior partnership with Google for TPU capacity. Broadcom shares are down 1.2% today.
Broadcom is reportedly lending Anthropic up to $42 billion to lease the latter’s AI chips, according to a prospectus IPO filing. Anthropic is estimated to spend so much on Broadcom’s technologies that it will become the chip designer’s largest compute customer by 2027.
Under the terms, Broadcom has the option to bring in a financing partner, and the notes could be converted into Anthropic equity. Anthropic said in its filing it does not expect any notes to be sold before it completes its IPO.
Anthropic also placed funds in a restricted account held for Broadcom’s benefit in April 2026 and could face obligations to add further amounts depending on the situation. This follows a move by the Claude AI developer in April that saw it team with Broadcom and Google for a deal providing Google’s Tensor Processing Unit capacity to Anthropic. The supply is coming online in 2027, as stated.
In addition to the AI chip deal, Anthropic is also leaning on Broadcom for equipment leasing and financing. Anthropic has been the focus of Wall Street for weeks after delaying its IPO to next year.
AI worries and fear of a bubble bursting come and go, but even OpenAI and Anthropic acknowledged the concerns last month, spurring more worries on The Street. Shares in Broadcom are down 1.2% today and 1.7% in the past week.
