Wall Street banks structure financing facility for Broadcom chips bound for Anthropic
The deal turns an earlier offer of up to $42 billion into a committed facility as Anthropic prepares for investor meetings and a possible IPO
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A group of Wall Street banks has arranged a structured financing facility to fund Broadcom-made chips for Anthropic, formalizing an offer of up to $42 billion in financing.
The facility converts a financing pledge Broadcom made into a committed order book for its custom chips, built at a scale that rivals the $180 billion in Anthropic exposure Nvidia has disclosed. It gives Broadcom demand for its AI chip business that does not depend on how Anthropic's IPO valuation debate is resolved.
Anthropic is heading into institutional investor meetings on October 14 ahead of a possible IPO before Thanksgiving. Investors are weighing a valuation for the company of $1.8 trillion to $2 trillion. The company's IPO prospectus has flagged government-relations risk, including an unresolved Pentagon supply-chain designation, as a business risk.
With the financing facility now committed, Broadcom's exposure to Anthropic carries the same open legal questions that investors will have to price into the IPO itself.