Broadcom shares climbed as much as 5% on Tuesday, October 27, 2026, following Anthropic’s regulatory filing for an initial public offering. The S-1 document identifies Broadcom as Anthropic’s largest infrastructure partner and describes agreements valued at $161.2 billion. DA Davidson analyst Gil Luria upgraded Broadcom from Neutral to Buy and raised his price target from $350 to $400, arguing that Anthropic’s available cash will support continued spending on artificial intelligence infrastructure. Anthropic also detailed a $63 billion financing arrangement involving firms including Bank of America and Blackstone to support its equipment leases from Broadcom. Deliveries are expected to begin in 2027, while the S-1 filing does not guarantee the timing or valuation of an initial public offering.
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