Broadcom shares rose by 5% on October 27, 2026, following the release of Anthropic's S-1 filing for its upcoming IPO. The document identified Broadcom as the primary infrastructure partner for the AI company, detailing agreements worth $161.2 billion.
Analyst Gil Luria from DA Davidson upgraded Broadcom stock from Neutral to Buy, increasing the price target from $350 to $400. The analyst cited the disclosed partnership and Anthropic's financial position, which includes $131 billion in cash and equivalents, as indicators of sustained AI infrastructure spending.
The filing also outlined a $63 billion financing arrangement involving Bank of America and Blackstone to support equipment leases from Broadcom. While the partnership is significant, deliveries of products and services are not expected to commence until 2027, meaning the reported figures represent future business rather than current revenue.
