史诗级合作！AMD暴涨24%，一夜市值飙升千亿！openAI零成本入股AMD！英伟达要慌了？AI资本链疯狂闭环！

Core Viewpoint - The article highlights the significant partnership between OpenAI and AMD, which is expected to generate substantial revenue for AMD and challenge NVIDIA in the AI accelerator market. The collaboration involves a unique "equity-for-purchase" structure that binds AMD's hardware sales to OpenAI's GPU deployment, creating a symbiotic relationship between the two companies [5][6][11]. Group 1: Partnership Details - OpenAI has entered a four-year agreement with AMD to procure a total of 6 gigawatts (GW) of AMD Instinct series GPUs, with the first 1 GW to be delivered in the second half of 2026 [5][8]. - As part of the deal, AMD will issue up to 160 million stock warrants to OpenAI at an exercise price of $0.01, contingent on GPU deployment progress and AMD's stock performance [8][10]. - This structure is unprecedented in the semiconductor industry, allowing OpenAI to potentially become a 10% shareholder in AMD while ensuring AMD retains governance rights [9][10]. Group 2: Financial Implications - The agreement is projected to bring hundreds of billions in revenue to AMD, marking a significant challenge to NVIDIA in the AI accelerator market [6][11]. - If AMD's stock price reaches $600, the value of OpenAI's stake could approach $96 billion, nearly equivalent to the total hardware value involved in the agreement [11]. - The partnership is seen as a win-win strategy, combining the strengths of both companies to advance AI infrastructure globally [11]. Group 3: Market Reactions - Following the announcement of the partnership, AMD's stock surged by 23.71%, marking its largest single-day gain since 2016, while NVIDIA and Broadcom saw declines in their stock prices [2][12]. - The article notes a broader market phenomenon where companies associated with OpenAI experience stock price increases, termed the "OpenAI golden finger effect" [27]. Group 4: Broader Industry Context - The collaboration is part of a larger trend where companies like NVIDIA, AMD, and OpenAI are engaging in a strategic race to build AI infrastructure, driven by national interests in AI capabilities [16][18]. - The innovative financing model of "equity-for-purchase" is seen as a potential template for future collaborations between AI companies and chip manufacturers, especially for those with less capital [19].