The Journal. · Friday, October 30, 2026
Ahead of its IPO, Anthropic released an S-1 filing revealing that Broadcom is not only supplying chips and guaranteeing loans, but is also lending money directly to Anthropic to help pay for them. Experts warn this interconnected setup constitutes circular financing.
“The same day this deal was announced, Anthropic released a document that details the company's finances before its IPO, something called an S-1.”
“Broadcom, in addition to all the things it's doing that we've described with the guarantee and the supplying, they're actually lending money to Anthropic that it can use to pay it back.”