Advanced Micro (AMD) Hits All-Time High as AI Optimism Soars

Core Insights - Advanced Micro Devices Inc. (AMD) has experienced significant stock performance, reaching an all-time high of $235.87 during intra-day trading, closing at $235.56, reflecting an increase of 11.37% [2][3] - The company has secured a multi-year partnership with OpenAI to supply 6 gigawatts of AMD GPUs, which is expected to generate "tens of billions of dollars" in revenue [2][3][4] - AMD's CFO, Jean Hu, emphasized that the partnership will enhance OpenAI's AI infrastructure and create substantial shareholder value for both companies [4] Company Performance - AMD's stock has shown a winning streak, marking three consecutive days of gains and reaching a new all-time high [1] - The stock's performance is driven by investor optimism regarding AMD's potential as a major competitor to Nvidia in the AI sector [1] Partnership Details - The partnership with OpenAI involves supplying a significant amount of GPU resources, although the total financial details of the deal were not disclosed [2][3] - The expected revenue from this partnership is projected to be highly accretive to AMD's non-GAAP earnings-per-share [4]