Overview

• AMD will supply hundreds of thousands of GPUs across multiple hardware generations beginning in the second half of 2026, starting with about 1 gigawatt on its forthcoming MI450 platform.
• OpenAI received warrants to buy up to 160 million AMD shares at $0.01 per share, exercisable in tranches upon technical, deployment and market milestones through 2030.
• AMD shares jumped roughly 20%–35% in early trading following the announcement, while some reports noted a modest dip in Nvidia’s stock.
• AMD executives said the agreement could translate into tens of billions of dollars in revenue and, alongside other customers, potentially exceed $100 billion over several years.
• The deal follows OpenAI’s previously disclosed $100 billion-class Nvidia arrangement and is framed as supply diversification, with plans to use AMD chips for large-scale inference and new U.S. data centers.