Overview

• OpenAI agreed to deploy 6 gigawatts of AMD Instinct GPUs starting with a 1 gigawatt rollout of the MI450 in the second half of 2026, with warrants for up to 160 million AMD shares vesting on rollout and share‑price milestones and guidance pointing to tens of billions in annual AI revenue from 2027.
• Nvidia said in September it would invest up to $100 billion in OpenAI and begin supplying data‑center chips as soon as late 2026, with CEO Jensen Huang arguing the AI buildout is underpinned by real demand rather than a bubble.
• To deepen ecosystem control and secure supply, Nvidia confirmed up to $2 billion in funding for Elon Musk’s xAI and, per Forbes, committed $5 billion to Intel to expand advanced chip packaging capacity.
• The U.S. approved exports worth several billions of dollars of Nvidia chips to the United Arab Emirates, with initial shipments designated for U.S. firms operating local data centers, while Wall Street boosted targets, including Cantor Fitzgerald’s $300 call and a view that Nvidia could retain roughly 75% of the accelerator market.
• Industry voices highlight binding constraints in compute and power, with customers lining up capacity years in advance, as U.S. officials also probe reports that intermediaries such as Singapore‑based Megaspeed may be helping China circumvent export restrictions.