Broadcom Inc. (AVGO)

Broadcom is gaining exposure to Anthropic’s planned AI infrastructure through $161 billion of five-year equipment leases, while custom AI accelerator demand continues expanding. The opportunity carries sizable financing and customer-concentration risks, including potential backstop exposure estimated at roughly $72 billion. Broadcom also continues generating substantial cash, with recent free cash flow reaching about $13.7 billionin one quarter.