Broadcom (AVGO) is said to be lending Anthropic up to $42 billion to lease the latter’s AI chips, according to a report from Reuters. Citing Anthropic’s prospectus IPO filing, Reuters reports that Anthropic is estimated to spend so much on Broadcom’s technologies that the Claude developer will become the chip designer’s largest compute customer by 2027.
Under the terms of the deal, 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, according to Reuters.
This follows a move by the Claude AI developer back in April that saw it team with Broadcom and Google for a deal that would see Google provide its Tensor Processing Unit (TPU) capacity to Anthropic. The supply is coming online in 2027, per a press release. In addition to the AI chip deal, Anthropic is also leaning on Broadcom for equipment leasing and financing, Reuters also reported Thursday.
Anthropic has been the focus of Wall Street for the last several 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 (AVGO) are down 1.2% and 1.7% today and in the past week, respectively.