Advanced Micro Devices, Inc. (AMD) stock price has risen by 1.06% (5.26) points in the pre-market hours on Monday, July 20, 2026. The stock price rally comes after rumors about AMD potentially acquiring Claude developer Anthropic as a client for its chips. Let’s discuss what’s going on.

AMD Stock Price Rally: Are The Anthropic Rumors True?

A GitHub code file by Anush Elangovan, an AI software vice president at AMD, lists Anthropic as a chip customer for the company. The discovery has led to significant speculation online, and a surge in AMD’s stock price.

According to a report by SemiAnalysis, Anthropic was placed in the same category as current hyper scale clients like Meta. The AI company was assigned 30 priority boost points by AMD. SemiAnalysis believes that the company is currently in the evaluation and testing phase.

While the discovery comes a surprise, there has been no official word from either AMD or Anthropic.

Can The Rally Sustain Itself?

If AMD becomes a chip provider for Anthropic, it would lead to a surge in investor confidence. AMD has been one of the top beneficiaries of the AI boom and the pattern may continue in the coming years.

Not only that, AMD has announced that it will reveal its fiscal second quarter financial results on August 4, 2026. Experts anticipate a similar trajectory as the first quarter. AMD reported stellar earnings report, with a revenue of $10.25 billion, a 37.8% increase year-over-year. Anticipation of another record-breaking quarter could lead to a continued price surge for AMD.

Also Read: AMD Q2 Earnings Report Coming Soon: What To Expect?

AMD is also expected to greatly benefit from the coming of agentic AI. Unlike generative AI that focusses on GPU power, agentic AI is better suited for CPU-focussed computation. AMD is one of the few companies with both GPU and CPU manufacturing capabilities. The development could lead to a sustain price rally for AMD’s stock.