Overview

• OpenAI will deploy up to 6 gigawatts of AMD accelerators over several years, starting with a 1‑gigawatt rollout of Instinct MI450 chips in the second half of 2026.
• AMD granted OpenAI a warrant for up to 160 million shares at $0.01, vesting in tranches tied to deployment progress plus rising AMD stock‑price targets reportedly reaching $600 for the final tranche.
• AMD executives said the partnership is expected to generate tens of billions of dollars in revenue for the chipmaker over the coming years.
• AMD shares jumped more than 30% after the announcement, with multiple outlets reporting intraday gains between roughly 27% and 37%.
• The pact is part of OpenAI’s multi‑vendor strategy alongside a recent Nvidia letter of intent for about 10 GW of systems and other infrastructure deals, underscoring the unprecedented scale and power needs of next‑generation AI data centers.