Market data not provided in this intraday commentary focused on AI sector developments.
No Federal Reserve or Treasury market developments covered in this brief.
The AI infrastructure buildout continues to accelerate at breakneck speed, with Broadcom's expanded Google partnership pointing to significant upside beyond their already ambitious >$100B AI revenue target for 2027. When you're seeing custom chip deals stretching through 2031 and compute capacity agreements measured in gigawatts, we're clearly in the early innings of this infrastructure cycle (despite what the AI skeptics keep saying).
No geopolitical developments reported.
AVGO struck a long-term agreement running through 2031 to develop and support custom TPUs for Google, while also supplying networking and other components for Google's AI infrastructure. The deal points to meaningful upside risk beyond Broadcom's prior guidance calling for over $100 billion in AI revenue by 2027. Separately, Google, Broadcom, and Anthropic expanded their strategic collaboration, with Anthropic gaining access to approximately 3.5 gigawatts of TPU-based compute capacity starting in 2027.
Anthropic reported explosive growth momentum, with annual recurring revenue now exceeding $30 billion (up from $9 billion at the end of 2025) as demand from Claude customers has accelerated through 2026. The company now has more than 1,000 business customers each spending at least $1 million in annualized revenue, up from 500 customers at that spending level back in February.
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No earnings calendar provided.