The move follows warnings from Broadcom CEO Hock Tan that borrowing costs and capital access could become the industry's primary bottlenecks, comparing some AI investors to 'casino gamblers' who lack understanding of the underlying business. Anthropic is also exploring up to $42B in convertible notes from Broadcom to finance chip leases. Kroll Bond Rating Agency assigned the lab a BB+ credit rating in June, designating its credit risk as junk just one notch below investment grade.
Tuesday, October 20, 2026
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Banks Assemble $60B AI Chip Deal for Anthropic After Credit Warning
AI5 days ago
Investment firms are coordinating a new debt facility for hardware from Google and Broadcom to support an AI startup's expansion. The agreement, totaling $60B, provides essential funding for Anthropic as its ability to scale compute infrastructure becomes increasingly tied to access to affordable financing. This credit facility follows a $35B package led by Apollo and adds to the company's reliance on high-volume debt to acquire next-generation accelerators.
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