Broadcom Locks In $63B Anthropic Chip Financing; DA Davidson Upgrades to Buy
AVGO sits 18% above its 52-week low of $289.96.
Summary
Broadcom has arranged $63B of financing through a special vehicle to sell XPU accelerators and networking gear and lease them to Anthropic starting in 2027, with $43.5B of that as senior first-lien debt. This builds on the record $60B bank consortium chip financing reported in early October, and follows the 8-K filed Oct. 27 disclosing a residual value guarantee on AI rack leases. DA Davidson upgraded the stock to Buy with a $400 target, citing the Anthropic ties and AI-driven capex, and shares rose about 4% from the Oct. 26 close of $329.17. The stock still trades below its 20/50/100/200-day moving averages with MACD under signal, so the upgrade and financing news are fighting a weak technical setup. Near-term resistance sits around $366.50 with support near $336.
At the time of this announcement, AVGO was trading at $343.02 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6T. The 52-week trading range was $289.96 to $495.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.