AMD Stock Rises
Edited By Maj Hussain, Halal Incorp
OpenAI & AMD have come to an important multi-year agreement in which AMD will actually supply high performance AI chips to OpenAI & OpenAI will obtain a choice to acquire up to 10% of AMD contingent on meeting specific markers.
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In this deal, OpenAI aims to deploy hundreds of thousands of AMD’s upcoming MI450 chips scaling up to six gigawatts of computing capacity over a select period of time, with an initial one gigawatt deployment factored in for the second half of next year.
AMD forsees the partnership to create tens of billions of dollars in annual revenue & over $100 billion in additional revenue over a four year timeframe.
AMD Stock Rises
The warrant arrangement will allow OpenAI to purchase as many as 160 million shares of AMD at a nominal price, as both of the parties hit agreed benchmarks.
The press release sent AMD’s stock soaring & is seen as a courageous move by OpenAI to diversify its chip supply which extends further than its existing business relationships.
As Reported By CNBC
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