Inside the 11th-Hour Scramble to Save Anthropic’s Debt Deal
Broadcom CEO Hock Tan secured a $63 billion chip-financing package for Anthropic just as the company filed for its initial public offering.
A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 27, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.
Broadcom CEO Hock Tan secured a $63 billion chip-financing package for Anthropic just as the company filed for its initial public offering. To finalize the agreement, Tan accepted higher interest rates and provided guarantees covering potential defaults after banks demanded stricter terms due to rising rates and AI exposure concerns. This intervention allowed the deal to close despite lender hesitation.
Background
- Anthropic reported an $80.7 billion net loss for the first half of the year, while Amazon and Alphabet recorded significant paper gains on related financing deals.
- The Federal Reserve began a two-day policy meeting, with Chairman Kevin Warsh expressing a desire to stop previewing future moves.
- JetBlue shares hit an all-time intraday low after reports that creditors hired bankruptcy advisers, though the stock recovered in after-hours trading following an earnings release.
- A Deloitte survey estimates that $5.4 trillion in credit is extended globally through securities-based lending.
Read the full article at wsj.com
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