AMD and Anthropic have signed a strategic deal that pairs a huge chip-supply commitment with an equity investment — AMD will put up to $5B into Anthropic, tied to milestones.

Anthropic will deploy up to 2 gigawatts of AMD Instinct MI450-series GPUs in AMD’s “Helios” rackscale systems, with the first gigawatt live in H1 2027, and has committed to buy tens of billions of dollars of AMD AI chips. Anthropic will own some chips outright and rent the rest via clouds. For AMD, landing a marquee AI lab is a major push against Nvidia’s grip on AI compute.