Broadcom plans to provide Anthropic with up to $42 billion in loans to support infrastructure spending.

Anthropic's IPO prospectus reveals that the company has established extensive partnerships with several major technology enterprises. One particularly noteworthy partner is Broadcom. The collaboration between the two covers computing power supply, equipment leasing, and financing. As part of this complex partnership, the IPO filing disclosed that Broadcom has agreed to provide Anthropic with loans of up to $42 billion to finance infrastructure expenditures. In return, Anthropic is set to become Broadcom’s largest client for its core chip design business next year—a spending model that has consistently attracted the attention of Wall Street AI skeptics. As part of the financing arrangement, Broadcom can designate a financing partner, and these debt instruments might convert into Anthropic’s stock. Anthropic disclosed that Broadcom’s dual role as both hardware supplier and financing partner creates “potential conflicts of interest,” which could impact Anthropic’s access to the computing power it needs for its operations.