I have been saying for a while that I think the market is underestimating how far ahead $AVGO's AI customers are already committing capital and Antrophics latest disclore is another thing pointing in that direction. Anthropic's confidential IPO prospectus reportedly shows $161.2B of Broadcom-related equipment lease obligations, largely non-cancelable. That is around 31% of Anthropic's $518B of total AI infrastructure commitments over the coming decade. $161B! I obviously would NOT put that number directly into a Broadcom revenue model. "Broadcom-related equipment" is not the same thing as Broadcom revenue, and we don't know the economics behind every dollar. But this connects almost perfectly with what I have been writing about Broadcom. Back in June, when FY2028 consensus revenue was around $229B, my own scenario came out closer to $272B. Since then we have seen more custom accelerator customers, larger cluster plans, stronger networking demand and increasingly long-term infrastructure commitments. And Anthropic is especially interesting because this is one of the customers people have worried could eventually bring more silicon work in-house. But customers can build more internal design capability while still depending heavily on Broadcom for IP, implementation, packaging, networking and getting enormous chips manufactured at scale. Those things are not mutually exclusive. $161.2B of Broadcom-related equipment obligations certainly doesn't look like a customer preparing to walk away. This is why I remain very comfortable accumulating $AVGO around these levels.