Overview

• AMD will supply up to 6 gigawatts of GPUs over several years, starting with a 1‑gigawatt MI450 rollout in the second half of 2026, when AMD expects to begin recognizing revenue.
• OpenAI received a warrant for up to 160 million AMD shares at $0.01 each, vesting by deployment milestones and stock‑price targets that rise to $600 for the final tranche.
• AMD executives said the partnership is expected to generate tens of billions of dollars in revenue and, with knock‑on effects, could drive more than $100 billion in new revenue over four years.
• Shares of AMD jumped as much as roughly 25%–35% in premarket trading after the announcement, while Nvidia edged lower by about 1%–2%.
• The deal reinforces OpenAI’s multi‑vendor strategy alongside recent Nvidia, Oracle and Broadcom agreements, and a source told Reuters it does not alter OpenAI’s plans with Microsoft.