AMD CEO Lisa Su on AI demand and hyperscaler spending: 'We're seeing the returns'

Yahoo Finance ·

AMD CEO Lisa Su on AI demand and hyperscaler spending: 'We're seeing the returns' Brian Sozzi · Executive Editor Fri, July 24, 2026 at 10:39 AM EDT 2 min read Maybe investors should rethink why they are upset with hyperscalers like Alphabet ( GOOG , GOOGL ) for hiking their capital expenditure plans to support their AI ambitions. Not only is the technology's usefulness rapidly rising, according to AMD CEO Lisa Su, but demand is exceptionally strong. That makes investing today critical to long-term success, Su said. "We're seeing the returns on investment," Su told Yahoo Finance (see video above). "Demand for compute is at a premium today. … We are very confident in the demand picture being there." AMD ( AMD ) unveiled its next-generation AI chips this week, headlined by the Instinct MI450 Series GPUs and the 6th Gen EPYC "Venice" CPUs. The new chips are designed to power AMD's new Helios rack-scale AI systems , which combine GPUs, CPUs, networking, and software into an integrated platform for training and running large AI models. The product announcement came alongside two new deals that sent the bulls back into AMD's stock, which had been trading sideways for most of July. Shares are still up a sizzling 106% in the past six months, according to AlphaSpace data . AMD said Microsoft ( MSFT ) will deploy Helios across Azure AI services beginning in the second half of 2026. It also announced a major tie-up with Anthropic ( ANTH.PVT ) that significantly expands its push to challenge rival Nvidia ( NVDA ) in the AI infrastructure market. Anthropic plans to deploy up to 2 gigawatts of AMD's next-generation Instinct MI450 GPUs in AMD's new Helios AI rack systems beginning in the first half of 2027 — a deal that could be worth tens of billions of dollars over time. AMD also committed to invest up to $5 billion in Anthropic, marking one of the chipmaker's largest strategic investments ever. The two companies will work together to optimize Anthropic's Claude AI models for AMD hardware and accelerate development of AMD's ROCm software platform. Big Tech is about to spend trillions to dominate the AI era Google raises capex growth expectations again In October 2025, AMD inked a deal with OpenAI ( OPAI.PVT ) for 6 gigawatts of GPUs. It also issued warrants to OpenAI for up to 160 million shares. A similar deal was signed with Meta ( META ) in February of this year. With both of those deals, AMD has committed about 20% of the company to OpenAI and Meta. "We see AMD emerging as a legit second source in the GPU market with the company poised to win the lion's share at Meta," Citi analyst Atif Malik wrote in a note. Brian Sozzi is Yahoo Finance's Executive Editor, host of the ' Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi , Instagram , and LinkedIn . Tips on stories? Email brian.sozzi@yahoofinance.com. Read the latest financial and business news from Yahoo Finance

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AMD CEO Lisa Su stated that AI demand remains very robust and that return on investment from hyperscalers' massive capital expenditures is becoming visible. AMD unveiled its next-generation Instinct MI450 GPU and Helios AI system, securing major supply contracts with tech giants like Microsoft and Anthropic. These moves show that AMD is emerging as a strong competitor to Nvidia in the AI infrastructure market. Investors should monitor whether big tech's AI capex translates into tangible performance.

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