AMD 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.
The two signed a definitive agreement for OpenAI to deploy 6 gigawatts of AMD GPUs over multiple years, the companies said Monday in a statement. AMD has given OpenAI a warrant for up to 160 million shares, which will vest as milestones are achieved. Those targets require AMD’s stock price to continue to increase in value and future exercise points include a tranche tied to a share price of $US600. AMD shares closed Friday at $US164.67.
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Bloomberg
