Advanced Micro Devices has signed an agreement with OpenAI for a strategic partnership that will lead Sam Altman’s company to acquire a 10% stake in the chip manufacturer’s capital. The news gave wings to AMD shares, which soared more than 23% on the Nasdaq market, leading the rally in artificial intelligence-related stocks. And so OpenAI’s “golden touch” blessed the US market again.
The terms of the agreement
AMD and OpenAI have signed an agreement to deliver 6 gigawatts of power to power OpenAI’s next-generation artificial intelligence infrastructure across multiple generations of AMD Instinct GPUs. The agreement also aims to break the domination of Nvidia, also a partner of OpenAI, in the artificial intelligence chip sector, to alleviate dependence on a single manufacturer. The release of the first 1 gigawatt tranche of AMD Instinct MI450 GPUs will begin in the second half of 2026.
Under the agreement, OpenAI will work with AMD as a strategic partner to drive large-scale deployments of AMD technology, starting with the AMD Instinct MI450 series and extending to future generations of chips.
As part of the agreement, AMD issued a warrant to OpenAI, which provides for the issuance of a maximum of 160 million AMD ordinary shares, equal to approximately 10% of the capital, at the symbolic sum of 1 cent. The agreement is structured so that emissions will accrue upon reaching specific milestones. The first tranche will mature with the initial 1 gigawatt deployment, while additional tranches will mature as deliveries reach 6 gigawatts of power. The releases are also tied to AMD achieving certain price targets for AMD shares and OpenAI achieving the technical and commercial milestones necessary to enable large-scale AMD chip deployments.
AMD shares soar on the Nasdaq
The news inflamed AMD shares, which soared on the Nasdaq market, posting a rise of 23.71% to 203.71 dollars per share. The stock thus updated its historical highs, reaching a new capitalization record.
OpenAI’s golden touch
AMD’s rally began on the day Sam Altman’s company held its annual developer event. Mere mentions of other publicly traded companies sent shares of these companies soaring, such as Figma, which rose 7.4%, HubSpot which gained 2.6%, and Salesforce, which gained 2.3%.
According to Bloomberg, OpenAI has already proven that it has a golden touch when it comes to partnering with other tech companies to implement its artificial intelligence products, but its power to influence the stock market is quickly extending even to companies with which it has only briefly discussed collaboration.
