AMD Shares Rise Following $2.5 Billion Investment Plan in Anthropic
Advanced Micro Devices (AMD) closed up 1.30% at $515.21, outperforming semiconductor rivals Nvidia and Intel. The stock's gains were driven by news from an amended IPO filing by AI firm Anthropic, which revealed that AMD will participate in a $26 billion private placement. As part of this deal, AMD plans to invest $2.5 billion in non-voting Class N common stock in Anthropic, fulfilling part of a previous commitment linked to chip deliveries. The upward momentum for AMD also follows investor rotation away from Nvidia amid reports of an investigation into CEO Jensen Huang. Additionally, AMD's recent financial performance remains strong, with record quarterly revenue of $13.4 billion reported on November 3 and Q4 guidance reaching approximately $17 billion.
Topics: AI chips Data Center Demand Private Placement Semiconductors
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