AMD eyes AI event boost with guidance hike, Anthropic deal

Advanced Micro Devices is preparing for a major inflection point on July 22, when it will host its Advancing AI event in San Francisco. The company is widely expected to announce raised guidance for both the near term and long term, with Bank of America analyst Vivek Arya anticipating a beat-and-raise quarter driven by "exceptional" demand for server processors and continued market share gains for AMD's CPUs. More aggressively, Jefferies analyst Blayne Curtis projects that AMD could match Nvidia's stated $200 billion（約32兆円） total addressable market (TAM) for data center CPUs, representing a substantial upward revision from AMD's earlier $120 billion（約19兆円） projection.

A second major catalyst will likely be the official announcement of Anthropic as a new customer for AMD's graphics processing units (GPUs). The signal is already visible: Anthropic has been recruiting engineers proficient with AMD's ROCm software platform, a strong indicator of an imminent large-scale partnership. This comes after AMD has already secured GPU deals with OpenAI and Meta, though those partnerships included large equity stakes. Investors are keenly watching to see whether the Anthropic arrangement represents a more conventional commercial structure. Jefferies analyst Curtis also anticipates that Microsoft could be announced as a GPU customer.

Beyond customer announcements and guidance, AMD is expected to provide updates on its CPU and GPU road maps, underscoring the technical innovation driving the company forward. AMD's chiplet design—which packs more memory into a single processor—combined with its acquisition of memory optimization company MEXT, position the company as a strong option for inference workloads. Meanwhile, AMD has become the data center CPU leader at a moment when agentic AI (autonomous AI systems) is set to drive explosive demand for processors, positioning the company to benefit from sustained growth in both GPU and CPU markets over the coming years.

AMD's July 22 event arrives as the company is riding two powerful waves in AI infrastructure: inference (the step where an AI model produces an answer to a user query) and agentic AI (systems that can autonomously execute tasks). The company already holds partnerships with OpenAI and Meta on GPU supply, but investors are watching closely to see whether Anthropic and potentially Microsoft represent a shift toward more conventional commercial arrangements rather than large equity stakes. Analyst expectations suggest AMD is poised to raise both near-term (Q2 results) and long-term guidance, with the data center CPU market potentially expanding to $200 billion（約32兆円）—nearly double the earlier $120 billion（約19兆円） estimate—as demand for agentic AI infrastructure climbs. AMD's technical advantages—its chiplet design for greater memory capacity and its acquisition of memory optimization company MEXT—position it as a compelling option for inference workloads at a time when market growth appears certain.