AMD Stock Hits All-Time High After Multi-Billion Anthropic Deal

Advanced Micro Devices, Inc (AMD) stock price hit an all-time high of $561 in the pre-market hours. The upswing came on the heels of a multi-billion deal between AMD and Anthropic. According to a report by the Wall Street Journal, the two companies have signed a deal for “tens of billions of dollars’ worth of artificial-intelligence servers.” On the other hand, chip maker will invest $5 billion in Anthropic. Let’s discuss where AMD stock price could go next.

Will AMD Stock Continue To Hit New All-Time High Prices After The Anthropic Deal?

AMD stock price has seen quite the ride over the last year. The asset has hit multiple peaks and is one of the biggest beneficiaries of the ongoing AI boom. AMD’s stock price is expected to continue rising over the coming weeks, given that the company will reveal its quarterly earnings reports in early August. Experts anticipate stellar revenue, following the same pattern as the first quarter of this year. Wall Street to report Q2 revenue of roughly $11.3 billion. Hitting this target would deliver a near 47% year-over-year increase.

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