AMD bets up to $5 billion on Anthropic in AI chip push
AMD and Anthropic have struck a sweeping chip and investment pact as the chip maker tries to win more ground in AI infrastructure.
By Sal Moretti · Money Reporter
3 min read
AMD is putting up to $5 billion behind Anthropic and landing a big chip commitment from the AI company, a tie-up that gives the chip maker another shot at loosening Nvidia’s grip on the AI hardware market.
The companies announced a strategic partnership that includes Anthropic buying up to 2 gigawatts of AMD’s Instinct MI450 series graphics processors and using AMD’s Helios racks. AMD, in turn, will use Anthropic’s Claude models to support its own software development, according to the companies’ statement.
MarketWatch reported that the agreement links the two companies on both the commercial and financial sides. The Wall Street Journal reported that the overall pact is worth tens of billions of dollars.
AMD Chief Executive Lisa Su said in the company statement that the partnership with Anthropic “will accelerate AI adoption at scale” and help establish Helios as a platform for future AI infrastructure.
AMD lines up another AI customer
The Anthropic agreement arrives as AMD works to strengthen its position in AI chips against Nvidia, which has been the dominant supplier of processors used to train and run advanced AI systems.
AMD also announced an expanded partnership with Microsoft on Monday, with Microsoft agreeing to deploy Helios products for several services, according to MarketWatch. The chip maker is scheduled to hold its “Advancing AI” event in San Francisco on Thursday.
Morningstar analyst Brian Colello previously told MarketWatch that AMD could provide more detail on its partnerships at that event.
Hendi Susanto, a portfolio manager at Gabelli Funds, said in emailed comments cited by MarketWatch that the Anthropic deal improves AMD’s strategic relationship, competitive stance and longer-term sales prospects.
AMD shares rose about 1% on Wednesday, according to MarketWatch. The stock has climbed more than 156% in 2026 as investors have piled into companies tied to the AI buildout.
Anthropic’s compute hunt gets bigger
For Anthropic, the agreement adds another route to the computing power needed to run Claude and serve customers. Anthropic Chief Compute Officer Tom Brown said in the companies’ statement that access to compute is central to keeping Claude competitive and meeting customer demand.
The planned investment would be AMD’s first in Anthropic, according to MarketWatch. The AI company is seeking to go public and was recently valued at $965 billion, MarketWatch reported.
The Wall Street Journal also reported that AMD is discussing a financial backstop for Anthropic’s future data-center leases. Such arrangements have become more common as large technology companies seek access to AI capacity and help AI startups secure the infrastructure they need.
Bloomberg reported in June that Alphabet had agreed to backstop $35 billion in Anthropic data-center leases.
MarketWatch reported that some investors have raised concerns about the growing financial links between chip companies and their customers. Still, the AMD-Anthropic deal shows how the AI race is increasingly being fought with chips, data-center capacity and big balance sheets, all moving at once.
This story draws on original reporting from MarketWatch.