Broadcom has agreed to lend Anthropic up to $42 billion to finance AI infrastructure, according to details in Anthropic's IPO prospectus reported by Reuters on October 1. The facility would take the form of convertible notes that could convert into Anthropic shares.

The financing could cover roughly a third of Anthropic's $125.2 billion five-year commitment to lease computing capacity built on Google's tensor processing units, which Broadcom co-designs with Google. It follows an expanded partnership announced in April that gives Anthropic access to multiple gigawatts of next-generation TPU capacity starting in 2027.

The prospectus itself flags the arrangement as potential vendor financing — Broadcom is both the chip supplier and the lender — with its own conflict-of-interest warning. Anthropic says it does not expect any of the notes to be sold before its IPO closes.