Stock Market Today, Nov. 10: AMD Rises on Plan to Invest $2.5 Billion in Anthropic
Chip designer AMD gained as investors weighed its AI deal push, with trading well above normal, today, Nov. 10, 2026.
On November 10, AMD's stock price surged following news that the company had struck a $2.5 billion investment deal with AI giant Anthropic. The data-center and PC chip designer saw its shares climb to $515.21, marking a 1.30% increase from the previous close. The positive movement came on the heels of a premarket upgrade and fresh chatter surrounding AMD's involvement in a $26 billion private placement with other leading technology firms.
This investment would entail AMD purchasing $2.5 billion worth of non-voting Class N common stock in Anthropic.
Trading volume for AMD shares reached 46.7 million shares on the day, significantly exceeding the three-month average of 23.2 million shares. In contrast, both the S&P 500 and Nasdaq Composite ended the day lower, with the S&P 500 falling 0.38% to 7,521 and the Nasdaq Composite dropping 0.74% to 25,066.
Among semiconductor stocks, Nvidia (NVDA) saw a decline of 5.47% to $168.89, while Intel (INTC) fell 2.09% to $58.13. AMD's outperformance was attributed to the new AI-chip deal with Anthropic, which contributed to investor confidence in the company. This surge in AMD's stock was also influenced by Wall Street's concerns over Nvidia CEO Jensen Huang's potential resignation following an investigation into his relationship with a suspected Chinese spy. These events led investors to favor AMD stock, further driving its upward momentum.
The positive outlook for AMD was bolstered by the company's strong financial performance. In November, AMD reported record quarterly revenue of $13.4 billion, with guidance estimating Q4 revenue to reach approximately $17 billion. Analysts have been impressed by AMD's continued growth in the AI-driven market, and CEO Lisa Su's leadership has been cited as a contributing factor to the company's success.
As a result, AMD's stock has been attracting attention from investors, and the Analysis team at The Motley Fool recommends keeping an eye on this semiconductor giant's future developments.
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