AMD stock skyrockets 25% as OpenAI looks to take stake in AI chipmaker (www.cnbc.com)

OpenAI and AMD announced a major chip and investment tie-up: OpenAI will deploy up to 6 gigawatts of AMD Instinct GPUs across multiple years (starting with a 1‑GW rollout in H2 2026), and AMD issued OpenAI a warrant for up to 160 million shares that vests on deployment and price milestones — potentially giving OpenAI roughly a 10% stake. The market reacted sharply: AMD shares jumped more than 25% premarket. OpenAI called the agreement “worth billions” and frames AMD as a core strategic supplier alongside existing deals with Nvidia and ongoing talks with Broadcom. Technically and strategically, the deal validates AMD’s next‑gen Instinct roadmap and materially diversifies OpenAI’s hardware supply, reducing single‑vendor reliance and easing industry supply pressure as OpenAI scales massive datacenter builds (the company’s broader roadmap cites tens of gigawatts and, by one estimate in coverage, nearly $1 trillion in new buildout commitments across partners). It also deepens the circular capital‑compute economy — equity, hardware and site construction are increasingly intertwined among a few big players — raising both competition in AI accelerators and systemic risk if any link falters.