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Kroll Bond Rating Agency assigned Anthropic a BB+ credit rating, one notch below investment grade, based on internal forecasts after the startup did not provide EBITDA or free cash flow data. The rating applies to the company and $4.4 billion in junior debt yielding 8.5%, following Broadcom's agreement to provide up to $42 billion in potential convertible notes for AI chip leasing. Broadcom CEO Hock Tan warned that capital access may become the primary growth bottleneck for the AI industry, triggering declines in shares for Samsung, SK Hynix, and Micron.
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Key sources
- SOURCE@stockmktnewz“warned a shortage of capital could be the next limit on AI growth”x.com
- SUPPORT@techmeme“Samsung down as much as 8.8%, SK Hynix 9.2%, and Micron 4%”x.com
- SOURCE@choblin29“secured a previously undisclosed BB+ credit rating from Kroll Bond Rating Agency in June, just one notch below investment grade”x.com
- SUPPORT@michaeljburry“AI model developers need to find customers that can generate returns from deploying the technology”x.com
- SUPPORT@mr_derivatives“calling people gamblers. Whether there is some truth in that or not (probably true) you just don’t say those things as the CEO”x.com
- SUPPORT@hedgiemarkets“Broadcom agreed to lend Anthropic up to $42 billion to lease its chips”x.com
- SUPPORT@firstsquawk“Chipmakers’ Shares Decline After Broadcom CEO Describes Market as a “Casino,” FT Says”x.com
- SUPPORT@reuters“the casino analogy goes too far”x.com