Broadcom $AVGO CEO Hock Tan personally stepped in to get the $63B Anthropic chip deal done. After nearly two months of negotiations, some banks were considering pulling out of the deal, known as Project North Star. The problem was growing concerns over AI-related debt and higher interest rates. Some lenders felt they weren't being compensated enough for committing more than $40B. Over the weekend, Tan held last-minute talks with bank executives, agreed to higher interest rates, and provided additional assurances around Broadcom's financial guarantees. The deal was announced Monday. Here's the interesting part: Broadcom isn't lending Anthropic $63B directly. A separate financing vehicle will purchase the chips and lease them to Anthropic, with Broadcom providing financial support for the senior debt. Another $18B in riskier debt carries no Broadcom guarantee. So Broadcom isn't just supplying the chips. It's also using its balance sheet to help make the purchases possible. Source: WS