Overview

• OpenAI’s new pact with AMD targets 6 gigawatts of compute with 1 gigawatt of Instinct MI450 GPUs slated to go live in the second half of next year, alongside a plan to buy up to 160 million AMD shares as milestones are met.
• AMD’s stock spiked sharply on the news, with coverage citing an intraday market value jump of about US$100 billion, as AMD executives projected billions in revenue tied to the agreement.
• OpenAI’s multi-vendor strategy now spans a recent 10‑gigawatt Nvidia alliance that includes up to US$100 billion of investment and previously disclosed buildouts with Oracle and SoftBank totaling roughly 7 gigawatts.
• Dell lifted its long‑term outlook to 7%–9% annual revenue growth and at least 15% EPS growth, pointed to AI servers for customers such as xAI and CoreWeave, and said demand remains strong even as it warned data center supply could eventually outpace needs.
• Analysts flagged circular financing risks as Nvidia reportedly prepares up to US$2 billion of equity in a roughly US$20 billion funding tied to xAI’s Nvidia GPUs through an SPV, and notes questioned whether supplier investments may be inflating apparent demand.