AMD signs AI chip-supply deal with OpenAI, shares surge over 34% | Reuters
- AMD to supply OpenAI hundreds of thousands of AI chips
- Deal includes warrant for OpenAI to buy up to 10% AMD stake at 1 cent/shr
- AMD expects more than $100 billion revenue from OpenAI, others as a result of deal
- AMD shares on track to record highest percentage gain since April 2016
OpenAI, which is valued at $500 billion, generated around $4.3 billion in revenue in the first half of 2025 and burned through $2.5 billion in cash, according to media reports.