OpenAI Strikes 6‑GW Chip Supply Deal With AMD, Gains Warrant for Up to 10% Stake

Overview

• AMD will deliver AI GPUs equal to 6 gigawatts of capacity over several years, with initial MI450 shipments slated for the second half of 2026 and revenue recognition starting then.
• OpenAI received a warrant for up to 160 million AMD shares at $0.01 each, issued in tranches tied first to initial MI450 deliveries and later to share‑price targets that reach $600.
• AMD executives said the agreement could support tens of billions of dollars in annual revenue and more than $100 billion in new revenue over four years when including follow‑on customers.
• The deal is framed as a major endorsement of AMD’s AI stack and part of OpenAI’s supplier diversification, following Nvidia’s announced plan to invest up to $100 billion and supply at least 10 GW.
• A person familiar with the matter said the arrangement does not alter OpenAI’s other compute plans, and on the same day the company pushed new enterprise integrations and an Apps SDK to drive adoption.