AMD stock continues rally
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Wall Street analysts explain how AMD’s own stock will pay for OpenAI’s billions in chip purchases
AMD's unusual deal to finance OpenAI's chip purchases could grant the AI model maker up to $100 billion, analyst estimates.
Optimism over artificial intelligence and future profit realizations led AMD ( AMD) to retain its gains, with the stock up 11.4% today, followed by Dell Technologies' ( DELL) stock, which soared 9% on Wednesday. CoreWeave ( CRWV) rallied 8.7%, continuing its upward trend in the AI product offerings space.
AMD will supply artificial intelligence chips to OpenAI in a multi-year deal that would bring in tens of billions of dollars in annual revenue and give the ChatGPT creator the option to buy up to roughly 10% of the chipmaker.
That's the market value of Advanced Micro Devices (AMD), after the stock climbed another 3.8% Tuesday to a record, according to Dow Jones Market Data. The move followed the 24% surge Monday that came
Advanced Micro Devices Inc. inked a deal with OpenAI to roll out AI infrastructure in a pact the chipmaker said could generate tens of billions of dollars in new revenue. AMD’s shares soared.
Latest circular transaction aims to make ChatGPT maker central to the effort to build a huge AI infrastructure
AMD is announcing a deal to supply its chips to OpenAI for building AI infrastructure. The agreement includes providing high-performance graphics chips for a total of 6 gigawatts of computing power for OpenAI’s next-generation AI systems.
AMD CEO Lisa Su should hope Nvidia CEO Jensen Huang takes digs at her more often. After Huang turned up on CNBC on Wednesday morning—where he discussed both the AMD-OpenAI chip deal announced on Monday and Nvidia's own dealmaking—AMD’s stock rallied 11%!
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