BofA: Anthropic & AMD Deal
Key Takeaways from the Anthropic Partnership> Partnership Details: AMD announced a partnership with Anthropic to deploy up to 2GW of AMD MI450 Series AI GPUs starting in the first half of 2027. > Financial Commitments: AMD committed to a $5 billion strategic equity investment and will use Anthropic's Claude in research and development (R&D) projects. > Expanded Engagements: This deal expands AMD's MI engagements to four major customers: Anthropic, OpenAI (likely via Microsoft cloud), Oracle, and Meta. > Financial Upside: The engagement indicates at least a $10 billion to $15 billion upside to current consensus expectations of $35 billion to $40 billion for CY27 MI sales. Analyst Event & Product Outlook> Advancing AI Event: Pre-announcements involving Microsoft and Anthropic serve as incremental positives ahead of AMD's analyst event. > Server CPU Roadmap: The event is expected to spotlight the server CPU roadmap (specifically upcoming Venice CPUs) and how they compete against NVIDIA's Vera in the agentic AI era. > CoWoS Supply & Sales Potential: Latest TSMC Chip-on-Wafer-on-Substrate (CoWoS) supply estimates point to roughly 1.4 million MI450 Series GPU units in CY27, which could surpass $40 billion in sales assuming a $30k average selling price (ASP).$AMD(AMD.US)
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