Broadcom CEO Hock Tan reportedly intervened to seal $63B Anthropic debt deal

What happened: Broadcom CEO Hock Tan held 11th-hour talks with bank executives over the weekend to finalize their commitment to the $63B AI debt deal for Anthropic, known as "Project North Star," and agreed to higher interest rates on the loans. Key numbers: $63B total commitments; over $40B sought from banks; AVGO shares rose 1.3% in extended Why it matters: Some banks had grown anxious about the deal amid rising interest rates and difficult AI markets, and considered pulling out. Broadcom offered more comfort around its guarantees to protect lenders from losses if Anthropic defaults. Market: +2.3% today ($329.17), -5.1% YTD, 0.8x vol — as of 23:45 UTC Coverage: 4 outlets in 24h

Broadcom CEO Hock Tan held 11th-hour talks with bank executives over the weekend to finalize their commitment to the $63B AI debt deal for Anthropic, known as "Project North Star," and agreed to higher interest rates on the loans.

Some banks had grown anxious about the deal amid rising interest rates and difficult AI markets, and considered pulling out. Broadcom offered more comfort around its guarantees to protect lenders from losses if Anthropic defaults. Market: +2.3% today ($329.17), -5.1% YTD, 0.8x vol — as of 23:45 UTC