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Today's Exclusive Article
Why Anthropic's Custom Chip Plans Could Benefit BroadcomWritten by Leo Miller. Published: 4/17/2026. 
Key Points
- Broadcom and Anthropic are partnering on a massive TPU deal
- Anthropic is also considering developing its own chips, providing an additional opportunity for Broadcom
- However, whether Anthropic will actually develop its own chips is far from confirmed
- Special Report: Elon Musk: This Could Turn $100 into $100,000
Large language model developer Anthropic is one of the top names in the artificial intelligence (AI) race and is growing quickly. From the end of 2025 to early April, Anthropic says its annual revenue run rate increased more than threefold, from $9 billion to over $30 billion. To support that growth, the company is partnering with semiconductor giant Broadcom (NASDAQ: AVGO). Anthropic plans to access 3.5 gigawatts of Tensor Processing Unit (TPU)-based AI compute through Broadcom over the coming years — the same class of chips Broadcom has co-developed with Google parent Alphabet (NASDAQ: GOOGL).
But reports say Anthropic is also exploring the development of its “own” AI chips. For investors, it’s important to understand what that claim likely means — and why Anthropic pursuing custom chips could ultimately be a win for Broadcom. AI Chip Development: Why Anthropic’s Exploration Could Include BroadcomAs first reported by Reuters, Anthropic is “exploring the possibility of designing its own chip,” according to three unnamed sources. The discussions are said to be in early stages; the company may decide to buy chips from existing suppliers instead, and it has not yet assembled a dedicated team to pursue an in-house design. Even if Anthropic moves forward, it’s unlikely the company would go it completely alone. When firms say they want to develop their own chips, they typically mean designing a custom architecture in partnership with semiconductor specialists like Broadcom. Many consider the TPU a Google “in-house” chip, but Google has partnered with Broadcom on TPU development for roughly a decade. Likewise, Meta Platforms (NASDAQ: META) works with Broadcom on its Meta Training and Inference Accelerator, and Amazon.com (NASDAQ: AMZN) partnered with Marvell Technology (NASDAQ: MRVL) for its Trainium chips. The pattern is clear: even the largest, best-funded tech companies rely on semiconductor experts to design and build custom chips. Anthropic has grown rapidly, but it still does not match the scale or resources of the biggest cloud and AI players. If Anthropic pursues custom silicon, partnering with an established chip designer is the most likely path — and that would be a meaningful opportunity for Broadcom. Expanding Beyond TPUs? Why Broadcom Could BenefitAnthropic currently purchases TPUs, but a bespoke chip developed with Broadcom would likely be more lucrative for the chipmaker. Custom development requires more engineering and integration work, which typically commands higher-margin revenue than selling standard TPUs. Margins could improve further if a Broadcom-Anthropic partnership excludes Google. If Broadcom shares TPU-related revenue with Google under their existing agreement, a direct deal with Anthropic could allow Broadcom to capture more value — though the financial details of the TPU arrangement are not public, so the magnitude of this benefit is uncertain. Custom chip projects also tend to be multi-year engagements. While Broadcom already has a multi-year TPU supply arrangement with Anthropic, co-developing a bespoke solution would likely deepen and extend the relationship, giving Broadcom access to one of the fastest-growing AI customers. That said, Broadcom is not guaranteed to win any custom-chip mandate. Anthropic has a strong relationship with Amazon, which invested $8 billion in Anthropic and uses Amazon’s Trainium chips. That connection creates the possibility that Marvell, Amazon’s chip partner, could be chosen instead. Anthropic’s Potential Custom Chip: All Smoke, No Fire at This PointIt’s important to emphasize that Anthropic’s custom chip may never materialize. Still, if the company does pursue a custom design, several established semiconductor firms stand to benefit. Broadcom and Marvell are the most obvious contenders given their existing ties to Anthropic: Broadcom through direct TPU partnerships, and Marvell via Anthropic’s relationship with Amazon. Competition for any potential deal will extend beyond those two companies, but Broadcom’s existing collaborations with large AI customers and its role in developing TPU-class hardware make it a leading candidate to benefit if Anthropic moves toward bespoke silicon. |
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