Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the AI Stocks Shaping Wall Street’s Next Big Rally. On October 6, Reuters reported that AMD will supply artificial intelligence chips to OpenAI in a multi-year deal. The deal has the potential to generate tens of billions of dollars in annual revenue and includes a warrant-structure that gives OpenAI the option to acquire an estimated 10% of AMD; contingent on deployment, milestones and share price targets. “We view this deal as certainly transformative ...

By Max A. Cherney and Arsheeya Bajwa SAN FRANCISCO (Reuters) -AMD will supply artificial intelligence chips to OpenAI in a multi-year deal that would bring in tens of billions of dollars in annual revenue and give the ChatGPT creator the option to buy up to roughly 10% of the chipmaker. Shares of the chipmaker surged more than 34% on Monday, putting them on track for their biggest one-day gain in over nine years and adding roughly $80 billion to the company's market value. The deal, latest in a string o ...