Broadcom ($AVGO) Launches Independent Credit Rating Agency With Same Quarterly Sales Target As Loan Desk

PALO ALTO, CA — Broadcom (Nasdaq: $AVGO) launched an independent credit rating agency Thursday to certify loans arranged by its AI financing desk, giving both divisions the same quarterly sales target to prevent conflicts over how much debt investors should buy.

The agency, Broadcom Independent Ratings, will occupy a separate floor, use different letterhead, and receive commissions through a payroll category labeled “analytical accuracy.”

“Our loan officers get paid when the financing closes. Our ratings analysts get paid when their assessment successfully allows the financing to close,” said financing director Elke Zielinski. “Those are entirely different jobs.”

The launch comes amid reported early talks for more than $50 billion in financing tied to custom chips for OpenAI, following a $60 billion financing package for Anthropic. Broadcom expects roughly $230 billion in AI chip revenue in fiscal 2028, a projection its new agency has independently identified as necessary.

To give the firewall verisimilitude, employees must badge through a locked door before asking analysts whether a loan can receive a third A.

Ratings chief Anh Cruz confirmed that analysts may downgrade any borrower, provided they first locate a replacement borrower of equal or greater size.

Investors seeking additional protection can purchase credit default swaps from a fund whose assets consist of other loans the agency has rated AAA. The resulting securities will be divided into tranches, allowing buyers to select precisely how far from the underlying problem they wish to sit.

At press time, the agency had stress-tested its portfolio against a risk model involving a massive financial downturn and simultaneous robot takeover, however one in which all businesses continued paying, or were bailed out.