Former SEC Chair: Broadcom’s $63 Billion Package Feels Like “That 08 Off-Balance Sheet Craze”

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Former SEC Chair: Broadcom’s Billion Package Feels Like “That 08 Off-Balance Sheet Craze”

By Roxanna Maglangit
Publication Date: 2026-10-30 20:52:00

Former SEC Chair: Broadcom’s $63 Billion Package Feels Like “That 08 Off-Balance Sheet Craze” ©BackyardProduction from Getty Images and Petrovich9 from Getty Images Signature via Canva

Key Takeaways

  • Banks plan to sell as much as about $21 billion of bonds for the $63 billion package Broadcom put together to finance Anthropic’s chips, Bloomberg reported.

  • Former SEC Chair Gary Gensler compared the package to the off-balance-sheet deals of 2008 and raised concerns about guarantees written by Broadcom, NVIDIA and AMD.

  • Broadcom backs the package’s $42 billion of senior debt against a fall in the chips’ value, and its two Anthropic deals are far bigger than NVIDIA’s or AMD’s backstops.

  • At 20x forward earnings, near its three-year low, Broadcom stock already prices in some of that risk.

Broadcom (AVGO:NASDAQ) just put together $63 billion so Anthropic can buy its chips. Now Wall Street has to sell the debt.

Banks…

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