Why Broadcom CEO Called Anthropic and OpenAI 'Two Geniuses in Mongolia' - Broadcom (NASDAQ:AVGO)

Broadcom CEO Hock Tan said the company is helping finance AI infrastructure for Anthropic and OpenAI by comparing them to “two geniuses” stranded in Mongolia who need support to reach college. Speaking on Broadcom’s third-quarter earnings call, Tan said only two of its six major AI chip customers require outside financing to keep up with the costs of scaling. That backing runs through Broadcom’s XPV platform, launched with Apollo Global Management and Blackstone to fund Anthropic and OpenAI. Broadcom has already closed a $35 billion first tranche tied to Anthropic’s initial 1-gigawatt deployment. Tan added that each gigawatt could translate into roughly $30 billion in annual revenue for those companies and said Anthropic is on track to become Broadcom’s largest custom AI chip customer in 2027.