Broadcom to lend Anthropic up to $42 billion for AI chip infrastructure

Anthropic, the AI company behind Claude, is preparing for an IPO that could value it at $2 trillion. Its prospectus reveals a $42 billion loan from Broadcom to finance infrastructure spending. In return, Anthropic is expected to become Broadcom's largest chip design customer by 2027. The financing is part of a broader trend where chip makers help customers fund purchases. Banks including Bank of America, Citigroup, and Morgan Stanley are arranging the debt, with Blackstone leading a junior tranche. The deal highlights the reciprocal spending between AI labs and chip suppliers, raising concerns about concentrated bets on AI revenue growth.