AMD Shares Jump More Than 13%; Anthropic Filing Details About $2.5 Billion Purchase

Anthropic’s IPO filing lists a planned purchase of about $2.5 billion of Class N stock by Advanced Micro Devices (AMD), a portion of the $26 billion private placement expected to close alongside the IPO.

The planned purchase is part of AMD’s July commitment to invest up to $5 billion in Anthropic. That approximate amount is included in the earlier commitment.

Oppenheimer’s decision to move AMD to Outperform from Perform and set a $600 price target came before the shares gained more than 13% Monday. At Wednesday’s open, AMD stood at $515.21, up 1.3%.

The July arrangement also includes a chip supply agreement. Anthropic plans to deploy AMD Instinct MI450 Series GPUs, with capacity of up to two gigawatts, in Helios rack-scale systems. Deployment of the first gigawatt is expected to begin in the first half of 2027.