AMD Shares Surge 24% After Announcing Multibillion-Dollar Deal OpenAI

Core Insights - OpenAI is set to acquire and deploy 6 gigawatts of AMD's AI chips, beginning with a 1 gigawatt deployment of AMD's Instinct MI450 GPU next year [1] - AMD has issued OpenAI a warrant for up to 160 million shares, approximately 10% of the company, at a price of one cent per share, contingent upon meeting specific share-price targets and commercial milestones [1]