Advanced Micro Devices landed a monster deal with OpenAI to build artificial intelligence infrastructure, giving the chipmaker a chance to show it can mount a challenge to Nvidia in the AI computing industry. AMD shares soared as much as 38% after the two companies announced the agreement, marking the stock’s biggest rally in nearly a decade.
OpenAI will deploy 6 gigawatts’ worth of AMD graphics processing units over multiple years, according to the pact, which is just over half the size of an agreement the AI startup recently reached with Nvidia. It also sets the stage for OpenAI to acquire a large stake in the chipmaker.
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