Micron stock climbed to a record close after the chipmaker announced a multi-year agreement to supply memory and storage to the AI startup
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Micron $MU Technology announced a strategic agreement with Anthropic on Monday that includes a memory and storage supply deal, a technical collaboration on AI infrastructure design, and a strategic investment in the AI company's Series H funding round.
As part of the arrangement, the two companies will jointly examine memory and storage performance across AI workloads and how those systems fit within the wider infrastructure stack, Micron said. The deal covers Micron's data center portfolio — including high-bandwidth memory, DRAM, and solid-state drives — and is intended to support Anthropic's compute needs as demand for its Claude models grows.
"Our compute strategy depends on getting every layer of the stack right, and memory and storage are central to how efficiently we can train and serve Claude," Anthropic co-founder and COO Tom Brown said in a statement.
Separately, Micron said Claude is already in use internally, with deployments spanning coding and agentic applications in its engineering, manufacturing, and enterprise operations. Financial terms of both the supply agreement and the Series H investment were not disclosed.
Micron stock closed up roughly 6% on Monday at $1,192, a record closing high. The stock has risen more than 300% year to date.
Anthropic has been moving to secure computing capacity across multiple fronts as usage of its Claude models strains its infrastructure. Quartz previously reported that Anthropic was in early talks to use Microsoft $MSFT's custom Maia 200 AI chips for its Claude models, part of a broader push to diversify its chip and compute partnerships that has also included arrangements with Amazon $AMZN Web Services, Google $GOOGL, SpaceX, Broadcom $AVGO, and CoreWeave, according to Reuters.
The AI startup, which confidentially submitted IPO paperwork on June 1, completed its Series H at a $965 billion valuation after pulling in $65 billion in that round.
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