Advanced Micro Devices (AMD): Key takeaways from the Advancing AI Event

Research evidence excerpt

Advanced Micro Devices (AMD): Key takeaways from the Advancing AI Event

24 July 2026

U.S. Semiconductors

Advanced Micro Devices (AMD): Key takeaways from the

Advancing AI Event

AMD held its Advancing AI event from July 22-23, culminating in a keynote by CEO Dr. Stacy A. Rasgon, Ph.D.

+1 213 559 5917 Lisa Su and investor Q&A. We thought the event was generally quite positive with key

stacy.rasgon@bernsteinsg.com announcements around new customer partnerships, updates on the product portfolio and

roadmap, increased TAM outlooks. We summarize the main announcements below.

Alrick Shaw

+1 917 344 8454 Helios (MI450) officially launched with (unsurprisingly) strong performance benchmarks, alrick.shaw@bernsteinsg.com

both vs. Vera Rubin and vs. MI350 (though as always with this sort of thing we take them

Arpad von Nemes with a grain of salt) (Exhibit 1, Exhibit 2). An updated Helios roadmap was also provided

+1 917 344 8461 with an annual release cadence of successive rack-scale systems with MI500/MI600 series

arpad.vonnemes@bernsteinsg.com expected to launch in 2027 and 2028, respectively (Exhibit 3). The near-term MI455X

ramp is still expected to start in 3Q and ramping into 4Q of this year.

Eva Zhang

+1 212 845 7839

eva.zhang@bernsteinsg.com AMD announced Anthropic as a third major customer for its Helios architecture, joining

OpenAI and Meta. As part of the strategic partnership with Anthropic, AMD will invest up to

$5B (so no warrants) and the companies will collaborate on ROCm. Anthropic will deploy up

to 2GW of compute, with deployment of the first 1st GW starting in 1H27 with the goal of

deploying almost the full 1GW in 2027. AMD also announced a partnership with Microsoft

to deploy Helios at scale on Azure, although not providing specific targets.