The S-1/A says that under the hardware supply framework agreement Anthropic made with AMD in July 2026, AMD has committed to purchase up to $5.0 billion of Anthropic's Class N common stock, and that the $2.5 billion AMD pays in the concurrent private placement will satisfy a portion of that commitment, leaving up to $2.5 billion.

The exact words it rests on

In July 2026, we entered into a hardware supply framework agreement (the “Hardware Supply Agreement”) with AMD ... AMD has provided a commitment to purchase up to $5.0 billion of our Class N common stock ... the $2.5 billion purchase price paid by AMD for shares of our Class N common stock in the concurrent private placement will satisfy a portion of the AMD Equity Commitment ... following the closing of the concurrent private placement, up to $2.5 billion of the AMD Equity Commitment will remain

What the source said when we opened it, on 14 Nov 2026.

The source

Anthropic, PBC Amendment No. 2 to Form S-1
Anthropic, PBC (SEC EDGAR) · 2026-11-10

Open the sourcearchived copy

Checked

Checked by the notis newsroom on 14 Nov 2026, against the source above.

In the story

Google and Nvidia would each buy about $10.0 billion of Anthropic stock 15 Nov 2026