Advanced Micro Devices, Inc.

NASDAQ Global Select
Back to all articles
Somewhat Bullish +45

AMD Stock Rises Overnight: Is Anthropic A New Customer? What A GitHub ...

📈 AMD shares rose 1.3% overnight amid speculation that Anthropic is becoming an AMD chip customer.

💻 A GitHub code file by AMD VP Anush Elangovan reportedly listed Anthropic as a 'customer' with maximum priority boost points.

🤝 Analyst Blayne Curtis of Jefferies notes Anthropic is hiring ROCm engineers, signaling potential infrastructure diversification.

⚠️ Anthropic has not confirmed the deal and states it currently uses a mix of Nvidia, Amazon, and Google hardware.

📅 AMD will host its Advancing AI 2026 conference on July 22-23 in San Francisco to announce new AI infrastructure.

📉 AMD stock has declined for three days straight but remains 132% higher year-to-date.

📊 AMD is scheduled to report second-quarter earnings results on August 4.

🔥 Traders view the upcoming conference as a potential catalyst, with some predicting a violent rebound from current support levels.

Bullish Signals
  • AMD shares gained 1.3% in the overnight session driven by positive speculation regarding a new major AI customer.
  • Analyst Blayne Curtis of Jefferies reports that Anthropic is actively hiring engineers with ROCm experience, indicating preparation to adopt AMD's software stack.
  • Retail sentiment on Stocktwits remains bullish, with traders viewing recent price declines as an opportunity given the stock's strong year-to-date performance.
Risk Factors
  • The potential partnership with Anthropic is not officially confirmed and remains in the evaluation phase according to SemiAnalysis.
  • Anthropic has publicly stated it continues to rely on Nvidia GPUs and Amazon/Google chips for its primary training and serving operations.
  • AMD stock has declined for three consecutive days, losing 16% recently, though it remains up significantly year-to-date.
Full Analysis
Advanced Micro Devices (AMD) shares rose 1.3% overnight following speculation that the company has secured or is close to securing AI startup Anthropic as a chip customer. This rumor stems from a GitHub code file by AMD vice president Anush Elangovan, which reportedly listed Anthropic as a 'customer.' The code also indicated Anthropic was assigned maximum priority boost points, similar to existing hyperscale clients like Meta. While the partnership is not officially confirmed, industry analyst Blayne Curtis of Jefferies noted that Anthropic has been hiring engineers with experience in ROCm, AMD's AI software stack, suggesting a diversification of its computing infrastructure. However, Anthropic maintains it currently uses a mix of Nvidia GPUs and chips from Amazon and Google for training and serving its Claude model. AMD is set to host its Advancing AI 2026 conference on July 22-23 in San Francisco, where the company is expected to focus on AI infrastructure and new silicon-to-software pipelines. Analysts and traders view this event as a potential catalyst for AMD stock, which has recently declined but remains significantly higher year-to-date. The article concludes with market context noting that AMD will report its second-quarter results on August 4. Retail sentiment on Stocktwits remains bullish, with traders anticipating a rebound driven by upcoming product announcements and the perceived undervaluation of the stock following recent price drops.