Anthropic의 IPO 신고서 제출에 따라 DA Davidson은 AI 사이클이 끝나지 않았다는 점을 근거로 Broadcom의 투자의견을 상향 조정했다.

Broadcom Inc. (AVGO) drew a bullish call from D.A. Davidson on Tuesday, following Anthropic's initial public offering (IPO) filing. The firm upgraded the stock to "Buy" from "Neutral."

According to The Fly, D.A. Davidson believes Anthropic will proceed with its IPO and raise capital, followed by a potential OpenAI IPO next year. That funding could help Broadcom meet its expectations over the next couple of years. The firm raised its price target to $400 from $350, saying the artificial intelligence (AI) cycle "isn't over quite yet," per TheFly. It noted that Broadcom shares are trading as though the probability of both IPOs materializing is "near zero," leaving significant upside potential if they proceed.

As of this writing, AVGO stock was up over 2% in premarket trading and was among the top-trending tickers on Stocktwits.

**Anthropic's IPO Filing Shows the Scale of AI Infrastructure Commitments**

Anthropic is seeking to list its shares under the ticker "ANT" on Nasdaq. The company filed its Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Monday.

The filing detailed Anthropic's extensive relationship with Broadcom, including a five-year equipment lease agreement involving approximately $125.2 billion in payments, excluding interest. Anthropic also disclosed an agreement allowing it to issue up to $42 billion in convertible promissory notes to Broadcom or a designated financing partner, if needed, to fund obligations under the arrangement.

**Broadcom CEO Helps Secure $63 Billion in Anthropic Financing**

The Wall Street Journal reported Monday that Broadcom CEO Hock Tan intervened in negotiations to finalize a $63 billion financing arrangement that lets Anthropic lease specialized AI chips developed by Broadcom and Google.

Tan spent nearly two months working with banks to secure more than $40 billion in commitments, according to the report. Some lenders considered withdrawing amid concerns that the returns did not adequately compensate them for the risks. Tan held last-minute discussions with bank executives and agreed to higher loan interest rates.

Bank of America, Blackstone, Citi and Morgan Stanley announced Monday that the $63 billion transaction will be executed through a special-purpose vehicle (SPV). The SPV will purchase Broadcom's AI accelerators and networking equipment for lease to Anthropic. Under the agreement, Broadcom will provide residual-value support to the SPV in an amount equivalent to the first-lien portion of the financing. Equipment deliveries are expected to begin in 2027.

**Retail Investor Sentiment Around AVGO Stock**

On Stocktwits, retail investor sentiment improved to "neutral" from "bearish" a day earlier.

So far this year, AVGO stock has fallen over 5%. By comparison, the State Street Technology Select Sector SPDR ETF (XLK), which holds the stock, has risen over 29% over the same period.