Broadcom up 4.2% on $63 billion Anthropic financing deal

The move extends a rebound in AI stocks, which are on track for a second winning day after swerving for weeks on worries about whether their boom is under threat because of how expensive it's become for companies to borrow money to build data centers and buy more AI chips. The broader market backdrop is tense: the majority of stocks within the S&P 500 were falling, but gains for influential AI stocks made up for that, pulling the index within 1.2% of its all-time high. The financing arrangement, in which several Wall Street firms will help Anthropic get access to Broadcom's XPU AI accelerators and networking solutions, may be seen as a way to keep AI infrastructure spending moving despite higher borrowing costs, though the body does not detail the structure of the financing.