AMD盘前飙升26%！OpenAI与其签订高达6GW芯片协议，且通过期权有望持股10%

Core Viewpoint - The strategic partnership between AMD and OpenAI marks a significant development in the AI chip market, with AMD set to deploy 6 GW of GPU power to OpenAI, potentially transforming AMD's revenue and market position [2][10]. Group 1: Partnership Details - AMD will provide a total of 6 GW of GPU power to OpenAI, equivalent to Singapore's average electricity demand, with the first 1 GW expected to be deployed in the second half of 2026 [2]. - As part of the agreement, OpenAI has been granted warrants to purchase up to 160 million shares of AMD at a nominal price of $0.01, which could result in OpenAI owning approximately 10% of AMD if fully exercised [5][6]. - The partnership is structured to unlock warrants based on AMD's stock price reaching specific targets, including a milestone linked to a price of $600, significantly higher than AMD's recent closing price of $164.67 [6]. Group 2: Financial Implications - AMD's CFO stated that the agreement is expected to generate hundreds of billions in revenue and enhance the company's earnings per share [3]. - AMD's AI GPU revenue is projected to be $6.55 billion this year, with the collaboration with OpenAI serving as a strong growth catalyst [10]. Group 3: Competitive Landscape - This partnership positions AMD as a key player in the AI chip market, traditionally dominated by NVIDIA, and validates AMD's next-generation Instinct product roadmap [9]. - OpenAI's collaboration with AMD is a strategic move to diversify its supply chain and reduce reliance on NVIDIA, following a recent $100 billion agreement with NVIDIA for 10 GW of computing infrastructure [10]. Group 4: Industry Dynamics - The partnership highlights the emergence of an AI "closed-loop economy," where capital, equity, and computing power circulate among a few leading companies, raising concerns about the sustainability of such a concentrated ecosystem [11][12]. - Analysts express concerns that any weakness in this tightly interwoven system could lead to significant pressures on the industry [12].