AMD与OpenAI结盟，6吉瓦算力订单落地

Core Insights - AMD has entered a significant strategic partnership with OpenAI, committing to deploy up to 6 gigawatts of AMD Instinct GPUs over several years, which is equivalent to the power of six typical nuclear power plants [2][4] - OpenAI will receive warrants to purchase up to 160 million shares of AMD stock, potentially making it a significant shareholder if all milestones are met [2][4][5] - This collaboration is expected to generate "hundreds of billions" in revenue for AMD and significantly enhance its earnings per share [5][9] AMD and OpenAI Partnership - The first phase of the deployment will involve 1 gigawatt of AMD Instinct MI450 GPUs, starting in the second half of 2026, with subsequent phases tied to performance milestones and AMD's stock price [4][5] - The partnership aims to optimize product roadmaps across multiple generations of hardware and software, marking a critical step for AMD in the AI accelerator market [8][9] Market Context - This deal comes shortly after OpenAI's $100 billion agreement with NVIDIA, indicating a strategic shift in OpenAI's supplier relationships and risk diversification [10][11] - AMD's current AI-related revenue is projected to reach over $6 billion this year, while NVIDIA's data center revenue exceeded $115 billion last year, highlighting the competitive landscape [8][9] Future Implications - The partnership is seen as a validation of AMD's next-generation Instinct product roadmap and its capabilities in high-performance computing [9] - OpenAI is also in discussions with Broadcom for custom chips for its next-generation models, further solidifying its infrastructure ambitions [11]