Broadcom Q4 Earnings Reveal Anthropic as $21 Billion Custom AI Chip Customer

Summary

Broadcom reported Q4 FY2025 earnings on December 11, 2025, beating analyst expectations with adjusted EPS of $1.95 (vs. $1.86 expected) and revenue of $18.02 billion (vs. $17.49 billion expected). The most significant revelation during the earnings call was the identity of Broadcom's previously mystery $10 billion customer: AI lab Anthropic. CEO Hock Tan disclosed that Anthropic had placed an initial $10 billion order for Google TPU Ironwood racks, followed by an additional $11 billion order in