# Broadcom residual value support

This package accompanies the October 26 update to AI Infra Credit's existing Broadcom note-liquidity report. The joint announcement establishes a 63 billion dollar transaction and the capital-provider roles. The official presentation supplies a 72.5 percent lease-amount reference, a rack-value offset and an expected 43 billion dollar peak exposure. These are different objects, not a disclosed 43/20 financing split.

Run `node shortfall.mjs` to reproduce `results.json`, then `node verify.mjs`. The arithmetic model reports `max(0, 0.725 * lease - racks)` in hypothetical consistent units. Its formula is an analytical restatement of the summarized shortfall, not a reconstruction of the undisclosed contract. Unknown values remain null; they are not zero.

The model deliberately leaves actual claims, payment dates, cash paid, expected loss, company liquidity and tranche allocations unestimated. Neither the announced 63 billion total nor the expected 43 billion peak is fed into the hypothetical sensitivity grid. The five-year issuer profile is illustrative and has unlabelled quarterly bars; this package does not turn those bars into a payment schedule.

The three comparison snapshots show a starting lease amount of 100 and rack value of 60, followed by independent cases with lease amount 60 and rack value 40 or 20. The resulting shortfalls are 12.5, 3.5 and 23.5. They are scenarios, not forecasts. Lower lease amounts can coexist with larger support shortfalls if the rack value falls faster.

`evidence.json` links the primary sources and distinguishes announced facts from unknown contract terms. The raw PDF was not downloaded successfully; source reading used its complete retrieved text and visual description, not a local PDF copy or exact quarterly bar extraction.

`render-figures.mjs` creates wide and mobile SVG versions. Add `--png` with the `sharp` package available, or set `AIC_SHARP_MODULE` to its installed absolute path, for PNG copies. The diagrams are original AI Infra Credit analysis; source documents retain their own copyrights.