AMD signs multi-billion-dollar AI server deal with Anthropic, with up to $5 billion equity investment tied to milestones

Advanced Micro Devices (AMD) has signed a multi-billion-dollar AI server partnership with Anthropic, according to The Wall Street Journal. Under the agreement, Anthropic is set to begin buying as much as 2 gigawatts of AMD’s next-generation Instinct MI450 chips for its data centers starting in the first half of 2027. Part of the computing capacity will also be leased through other major cloud service providers or newer cloud companies. The deal includes a financing component as well: if certain compute deployment milestones are met, AMD will invest up to $5 billion in Anthropic in exchange for an equity stake. The report said this would mark AMD’s first investment in an AI company. AMD’s chief executive said the company has long wanted to become a key infrastructure partner for Anthropic, adding that engineering teams from both sides have already been working together for some time.