$Broadcom(AVGO)$ Anthropic's S1 filing confirms just how big Broadcom's role is here. Broadcom (AVGO) is the single largest named supplier. The five-year equipment leases carry about $161.2 billion of rent for TPU-based systems, backed by a $42 billion convertible note facility that Broadcom (or a financier it assigns to) can convert into equity. For an AVGO holder, this filing is a multi-year, largely non-cancelable demand signal for TPU systems, with Broadcom also acting as lender and future shareholder.
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