Bullish
AMD's AI chip supply deal with OpenAI boosts stock by over 34%
In a significant development, AMD has entered a multi-year agreement to supply artificial intelligence chips to OpenAI, potentially generating tens of billions in annual revenue. This partnership has led to a surge in AMD's stock price, which rose over 34% following the announcement.
Key points
- AMD's stock price increased by over 34% after announcing the AI chip supply deal with OpenAI.
- The deal includes an option for OpenAI to purchase up to 10% of AMD's shares.
- The partnership underscores the growing demand for AI computing power in the industry.
Sources
AI-generated from public news sources. Not financial advice.
