Equity: OpenAI receives warrants for up to 160 million AMD shares at $0.01, backed by technical and commercial milestones with stock-price targets reportedly near $600. Scale and

AMD and OpenAI are now partners, with the former supplying AI chips to the latter and OpenAI having the option to buy stocks.

The deal represents a major win for AMD in its battle against GPU leader Nvidia, and shows how OpenAI is racing to secure the hardware it needs to scale, even as it navigates its complex ties to Nvidia.

AMD and OpenAI have signed a multi-year deal making AMD the core compute partner. OpenAI will deploy 6GW of AMD GPUs and start using Instinct MI450 chips in 2026.

AMD CEO Lisa Su dismissed concerns of an AI investment bubble, saying the world is "thinking too small" about artificial intelligence as the chipmaker's landmark partnership with OpenAI — expected to generate tens of billions in revenue — sent shares surging nearly 24%.

OpenAI partners with semiconductor giant AMD to utilize next-generation graphics processing units for powering AI advancements.