AMD Stock Extends Rally as Anthropic Filing Reveals $2.5 Billion Stake

TLDR AMD stock jumped more than 13% on Monday, then rose about 5% early Tuesday before cooling to roughly 2% higher. Anthropic’s IPO filing shows AMD will buy about $2.5 billion of Class N stock in a $26 billion private placement. The purchase falls under AMD’s July commitment of up to $5 billion tied to a hardware supply deal. Oppenheimer upgraded AMD to Outperform with a $600 price target. Nvidia fell nearly 6% on Tuesday as its board investigates a controversy involving CEO Jensen Huang. AMD stock kept climbing on Tuesday, though it gave back some gains by midday. It rose about 5% in morning trading and was up roughly 2% at the time of writing.

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