AMD commits up to US$5 billion to Anthropic ahead of reported IPO prospectus

Advanced Micro Devices has committed to make a future strategic equity investment of up to US$5 billion in Anthropic, according to AMD’s quarterly filing and a report carried by Yahoo Finance. The commitment is subject to undisclosed contingencies, with funding expected to be deployed through fiscal 2028.

AMD has not yet received a stake in the artificial intelligence company behind the Claude models. Neither company has disclosed the contingencies, the investment valuation or the final size of any holding.

The agreement also provides for Anthropic to deploy up to 2 gigawatts of AMD Instinct MI450 graphics processing units. Deployment of the first gigawatt is scheduled to begin in the first half of 2027.

Anthropic confirmed in June that it had submitted a confidential draft registration statement. The Information has reported that the company could publish its IPO prospectus after the US Labor Day holiday, with a listing potentially occurring in late September or early October. The timing remains unconfirmed.

Reported figures on Anthropic’s private-market valuation, revenue and fundraising have not been independently substantiated in the supplied source. The company has reportedly raised at least US$130 billion and reached a valuation near US$1 trillion, but those figures are not filed company disclosures.

The Anthropic arrangement follows a separate AMD deal with OpenAI that includes a warrant for up to 160 million AMD shares, conditional on deployment and share-price milestones. The Anthropic investment is therefore best viewed as a conditional commitment tied to a future chip deployment, rather than a completed investment.