Overview

• AMD will supply hundreds of thousands of GPUs equivalent to about 6 gigawatts of capacity over several years, with initial shipments expected in the second half of 2026 using its upcoming MI450 line.
• OpenAI plans a 1 GW installation based on MI450 starting next year, and AMD said it expects to begin recognizing revenue at that point.
• OpenAI received warrants to buy up to 160 million AMD shares at $0.01 each, vesting in tranches tied to deployment milestones and stock-price targets that reach as high as $600.
• AMD shares jumped in early trading after the announcement, as executives called the agreement transformative and projected potential for dozens of billions in annual revenue and more than $100 billion over four years.
• The arrangement complements OpenAI’s other capacity deals with Nvidia, Oracle and Broadcom as it pursues massive scale for AI infrastructure, with external estimates pegging costs near $50 billion per gigawatt.