Anthropic’s confidential S-1 prospectus reveals a $42 billion financing facility from Broadcom to help fund a $125.2 billion TPU compute lease
Broadcom is not just supplying chips. The filing shows it acting simultaneously as the supplier, the lessor, and the lender, with the debt convertible into Anthropic equity. The prospectus explicitly flags this triple-role as a potential conflict of interest. The structural risk is entirely circula…
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