Broadcom Inc (AVGO · NASDAQ)

Broadcom has agreed to lend Anthropic up to $42 billion to finance chip leases and infrastructure spending, per Anthropic's IPO prospectus, positioning the company as both supplier and funder. Fundamentals remain strong: fiscal Q3 (ended 2026-07-31) revenue reached $29.59B, up from $18.02B a year prior, with TTM revenue of $89.10B, 75.5% gross margin, 42.9% profit margin, and $13.66B in quarterly free cash flow; the company beat estimates in all of its last four earnings reports. The stock, however, has weakened — down 11.4% over three months and 28.4% below its 52-week high at $343.64, trading below its 20-, 50-, and 200-day moving averages with an RSI of 40. Valuation remains elevated at a 45.26 P/E and 18.81 P/S, though leverage is modest at 1.1x debt/EBITDA with $23.98B in cash.