AMD and Anthropic have signed one of the biggest chip deals in recent memory, covering tens of billions of dollars’ worth of AI servers built around AMD’s upcoming Instinct MI450 chips.
We are excited to announce that AMD and @AnthropicAI are expanding our strategic partnership to accelerate the development and deployment of next-gen AI infrastructure. Tune in at 9:30am PT tomorrow to hear from Dr. @LisaSu from the #AdvancingAI keynote stage!
✅ Up to 2 GW of… pic.twitter.com/HW2E1mSecN
— AMD (@AMD) July 22, 2026
Anthropic will purchase up to 2 gigawatts of the new chips, with deliveries set to begin in the first half of 2027. AMD stock was up around 0.88% on the day, though it briefly dipped around 3% in pre-market after an initial spike faded as a broader tech selloff weighed on the sector.
Advanced Micro Devices, Inc., AMD
The deal is AMD’s first equity investment in Anthropic, with the chipmaker pledging up to $5 billion as deployment milestones are met. That financial commitment underlines just how much AMD wants a seat at the AI infrastructure table.
AMD CEO Lisa Su made no secret of her ambitions. “We have very much wanted to be a major part of their infrastructure,” she said, adding that engineering teams from both companies have been working together behind the scenes for some time.
For Anthropic, the deal addresses a real problem. The company has been stretched thin by surging demand for its AI tools, with some users reporting outages and usage limits imposed to manage the load.
Anthropic currently runs workloads across a mix of silicon — Google’s TPUs, Amazon’s Trainium chips, and Nvidia’s GPUs. Under the new agreement, it will deploy AMD chips in its own data centers and lease additional capacity through cloud providers and neoclouds.
Su was candid about the planning horizon involved in deals like this. “You can’t just wake up one morning and say, ‘Oh, I want a gigawatt of compute tomorrow,'” she said. “You actually have to plan 12, 18, 24 months in advance.”
The deal is AMD’s latest effort to chip away at Nvidia’s dominance in the AI hardware market. AMD has been winning customers by leaning on demand from AI developers looking to reduce reliance on a single supplier.
Recent wins include large deals with OpenAI and Meta Platforms. The Anthropic agreement adds another top-tier AI company to that roster.
To close deals, AMD has extended incentives including offering customers warrants in the company. The strategy appears to be gaining traction as more AI firms look beyond Nvidia’s ecosystem.
Beyond chips, AMD is also in talks to provide a financial backstop for Anthropic’s future data-center leases, according to a person with direct knowledge of the discussions.
This follows a broader industry trend where large tech companies with investment-grade credit help AI startups access infrastructure financing they couldn’t secure on their own terms. Google has already backed some of Anthropic’s data-center deals tied to its TPU supply.
As part of the deal, AMD and Anthropic also signed an engineering collaboration in which Anthropic’s Claude models will be used to improve AMD’s chip performance.
Earlier this year, Anthropic signed new cloud agreements with Google and Amazon, as well as a deal with Elon Musk’s SpaceX, which has been selling excess data-center capacity it accumulated.
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