Xin Lang Cai Jing·2025-10-06 16:15Core Insights - OpenAI is forming strategic partnerships with chip suppliers, specifically AMD and NVIDIA, to secure AI chip supply and infrastructure development [1][2][3] Group 1: OpenAI and AMD Partnership - AMD issued warrants to OpenAI allowing the purchase of up to 160 million shares at $0.01 each, potentially giving OpenAI about 10% ownership of AMD [1][2] - The partnership aims to meet the growing global demand for AI, with AMD's CEO stating it will create a win-win situation for both companies [2] - The first tranche of shares will vest with the deployment of 1 GW of AMD GPUs, with further vesting tied to the scale of deployment and AMD's stock performance [2][3] Group 2: Financial Implications - AMD expects the partnership to generate hundreds of billions in revenue and enhance its non-GAAP earnings per share [2] - The final vesting of shares is contingent on AMD's stock reaching a target price of $600 per share by the warrant's expiration date in October 2030 [2][3] Group 3: OpenAI and NVIDIA Partnership - NVIDIA plans to invest up to $100 billion in OpenAI, contingent on the construction and deployment of AI data centers [1][3] - The first NVIDIA systems are set to be deployed in late 2026, with investments being released progressively as the data center project advances [3] Group 4: Broader Supply Chain Strategy - OpenAI is also collaborating with memory chip manufacturers Samsung and SK Hynix to secure high-bandwidth memory (HBM) supply, aiming for a monthly production of 900,000 DRAM wafers [3] - This multi-faceted approach ensures OpenAI's computational power supply through various partnerships with leading chip manufacturers [3]