Broadcom and SpaceX offer indirect exposure to Anthropic's AI spending ahead of its IPO

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Summary · why it matters

Investors seeking exposure to Anthropic before its confidential IPO filing can consider Broadcom and SpaceX, two suppliers that profit directly from the AI lab's massive infrastructure spending. Anthropic's revenue run rate has surpassed $30 billion, and it is spending heavily on chips and computing, including a commitment to roughly 1 gigawatt of Google TPU capacity coming online in 2026 and about 3.5 gigawatts more starting in 2027. Analysts at Mizuho estimate Broadcom could collect around $21 billion of AI revenue tied to Anthropic in 2026 and roughly $42 billion in 2027, helping drive Broadcom's custom AI chip business toward a projected $100 billion in annual revenue by 2027. SpaceX, now publicly traded, is set to receive approximately $1.25 billion per month from Anthropic through May 2029 under a lease for the Colossus supercomputer, a contract worth more than $40 billion in total. Neither company holds an equity stake in Anthropic, so the upside depends on Anthropic remaining a major customer, and risks include Anthropic's reported exploration of building its own chips and the circular spending patterns of the AI boom.

Impact on stocks 4

Artificial Intelligence▲ · 3 stocks
Broadcom Inc
AVGO
▲ PositiveDemandrelevance

Anthropic's massive infrastructure spending drives demand for Broadcom's custom AI chips, with estimated $21B revenue in 2026 and $42B in 2027.

Financials▲ · 1 stocks

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Off-coverage companies 1

AnthropicPrivate± Mixed
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