By David Moadel
Publication Date: 2026-10-27 13:23:00
Anthropic’s IPO filing names Broadcom as supplier, lessor, and collateral holder for a five-year compute deal, and one analyst thinks that locked-in relationship justifies a price target far above where the stock trades today.
Anthropic’s newly public IPO filing has made Broadcom (NASDAQ:AVGO | AVGO Price Prediction) the chip name most tightly bound to the AI lab’s compute expansion, and a fresh analyst upgrade now puts a higher price target on that link. Broadcom stock is at $339.90, up 3% in early trade, a move that adds new weight to its custom chip business. The upgrade and a stronger semiconductor group are both feeding the gain.
Meanwhile, NVIDIA (NASDAQ:NVDA) shares are at $218.41, up 1%, a smaller advance that leaves Broadcom stock out in front. Chip stocks are broadly stronger, with the iShares Semiconductor ETF (NASDAQ:SOXX) up 2%. Large-cap tech is trailing that pace, as the Invesco QQQ Trust (NASDAQ:QQQ) is up 0.6%.
DA Davidson Upgrade Puts a Price on Anthropic Ties
DA Davidson upgraded Broadcom stock to Buy from Neutral and raised its price target to $400, arguing that Anthropic’s IPO filing signals the AI spending cycle still has room to run. Under that thesis, Anthropic raises capital first and OpenAI follows, giving Broadcom the funding pipeline it needs to meet its growth expectations. Anthropic’s IPO registration, made public a day before the upgrade, describes Broadcom as both a supplier and a lessor of its AI computing equipment under a…
