AMD to invest up to $5 billion in Anthropic under AI infrastructure deal

AMD has agreed to invest up to $5 billion in Anthropic under an infrastructure agreement covering tens of billions in AI systems. Anthropic will deploy up to two gigawatts of capacity using AMD’s Instinct MI450-series accelerators, with the first gigawatt deployment starting in the first half of 2027. AMD's investment is tied to Anthropic meeting certain deployment milestones, but the conditions have not been disclosed. The companies have not clarified whether Anthropic must use AMD's investment to fund the systems, indicating a complex structure that combines AMD's financial commitment with a significant hardware order from Anthropic.