Reported 3 days ago
AMD's stock price soared more than 23% on Monday after announcing a significant multibillion-dollar partnership with OpenAI, which includes supplying 6 gigawatts of GPUs starting with MI450 chips in 2026. OpenAI will acquire up to 10% of AMD through a stake of 160 million shares, which will vest upon hitting certain milestones. This collaboration is poised to generate substantial revenue for AMD and enhance its non-GAAP earnings, despite the ongoing competitive landscape with rival Nvidia.
Source: YAHOO