Broadcom CEO Clinches $63B AI Chip Financing for Anthropic

The scale is the story: a single AI lab's chip buildout now requires a capital structure that looks like leveraged buyout territory, with senior secured, subordinated and eventual investment-grade bond tranches stacked together. That banks and Blackstone are willing to underwrite it signals conviction that compute demand is durable enough to service record debt — but it also moves Anthropic's financing risk into credit markets, where AI exposure is increasingly being priced. The open question is whether the bond issuance lands as planned and whether this template becomes the norm for frontier-lab infrastructure or remains a one-off.