Overview

• OpenAI will deploy up to six gigawatts of AMD GPUs across multiple generations, starting with a one‑gigawatt Instinct MI450 rollout in the second half of 2026.
• Warrant tranches vest on deployment milestones and AMD share‑price targets that escalate to $600 for the final installment.
• AMD executives said the partnership is expected to deliver tens of billions of dollars in annual revenue and to drive more than $100 billion in new sales over four years from OpenAI and other customers.
• AMD shares jumped roughly 27% to 35% in early trading on the announcement, while Nvidia dipped about 1%.
• OpenAI described the AMD agreement as incremental to its Nvidia plans and part of a broader infrastructure expansion that includes major commitments with Oracle and other suppliers.