$Broadcom(AVGO)$  Wall Street keeps going back and forth on AI spending, circular financing, and whether these huge infrastructure commitments can actually hold up. Meanwhile, Anthropic reportedly just posted some numbers from an investor presentation: $16.8B in Q3 revenue, up 46% sequentially, an 11% adjusted operating margin, positive cash flow, and $1.70 in revenue for every $1 spent on compute. They also reportedly have $518B in long-term infrastructure commitments. These are investor presentation figures, not audited financials. The interesting part is that AI demand seems to be turning into real revenue, and the economics look like they're improving quickly. Broadcom supplies critical custom AI silicon and networking infrastructure. No new AVGO orders were disclosed, but this is the kind of growth that supports the long-term thesis. Broadcom's FQ1'27 AI revenue forecast hasn't even been released yet.