Broadcom stock rises 5% on upgrade and Anthropic IPO filing

Broadcom shares climbed as much as 5% on Tuesday, October 27, 2026. The move came a day after Anthropic filed to go public, and after one analyst decided the filing changed his view of the chipmaker. The S-1 named Broadcom as Anthropic’s largest infrastructure partner, with agreements valued at $161.2 billion. Few things move a stock like a customer publishing its spending plans in a regulatory filing. The upgrade and the filing behind it DA Davidson analyst Gil Luria raised his rating on Broadcom (AVGO) from Neutral to Buy. He also lifted his price target from $350 to $400. The catalyst was Anthropic’s S-1, filed on October 26, 2026. Inside that document, Anthropic laid out a $161.2 billion relationship with Broadcom. It also disclosed $131 billion in cash and equivalents, plus gross margins of approximately 50%. Luria pointed to those figures as evidence that spending on AI infrastructure looks set to continue. A customer with that much cash on hand is a customer that can keep paying its suppliers. A $63 billion financing structure The filing also detailed a $63 billion financing arrangement built to support Anthropic’s equipment leases from Broadcom. Bank of America and Blacksto...