Broadcom Stock Rises as $63 Billion Financing Backs Anthropic AI Expansion
Photo: The Crypto Basic
Broadcom (NASDAQ: AVGO) shares rose 2.37% to $337 in Tuesday’s premarket trading after Citi, Blackstone, Bank of America, and Morgan Stanley announced a $63 billion financing deal to purchase Broadcom’s artificial intelligence equipment for Anthropic. The announcement came at 4:15 p.m. ET Monday, after the regular trading session ended. The transaction will finance approximately 1.7 gigawatts of AI computing capacity, according to Broadcom’s legal adviser, Sullivan & Cromwell. That capacity forms part of a previously announced 3.5-gigawatt computing arrangement involving Broadcom, Google and Anthropic.
Source: The Crypto Basic
