AMD Shares Surge Over 5% on Anthropic AI Partnership and IPO Investment Disclosures

Advanced Micro Devices shares surged over 5% on Tuesday, hitting an intraday high of $539.25, following disclosures of an investment in artificial intelligence firm Anthropic. An IPO filing revealed AMD agreed to buy roughly $2.5 billion of Class N shares in a $26 billion private placement, part of a strategic commitment to invest up to $5 billion. In exchange, Anthropic will deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs across its Helios rack-scale systems beginning in the first half of 2027. Gains followed an Oppenheimer upgrade to Outperform with a $600 price target.