New York, Feb 2, 2026, 18:17 EST — After-hours
- AMD shares jumped roughly 4% in after-hours trading, just one day before the company reports its quarterly earnings
- OpenAI has been in talks with AMD, seeking alternatives to certain Nvidia AI chips, Reuters reported
- Traders are zeroing in on AMD’s earnings and its outlook for data-center and AI demand
Advanced Micro Devices shares climbed roughly 4% to $246.27 in after-hours trading Monday, extending earlier gains. During the regular session, the stock fluctuated between $229.81 and $253.
This matters as AMD approaches its results, with investors eager for signs on whether investment in data centers and AI equipment continues to flow through the chip supply chain. Chip stocks have been volatile, and earnings have become a litmus test for the wider AI sector.
AMD plans to release its fiscal fourth-quarter and full-year 2025 earnings after markets close on Feb. 3, with a conference call set for 5 p.m. EST, the company announced.
Chipmakers pushed U.S. stocks higher on Monday, led by AMD’s 4% jump, as gains spread to peers like Micron Technology amid a rally driven by AI-related demand. “The fundamentals are good and earnings are strong,” said Tim Ghriskey of Ingalls & Snyder. Reuters
After the close, Reuters reported OpenAI is scouting alternatives to certain Nvidia chips, zeroing in on “inference” — the process of generating responses to user prompts. Sources say OpenAI has explored deals with AMD and startups like Cerebras Systems and Groq. Nvidia maintains that its chips remain the go-to for inference workloads. OpenAI confirmed it still depends on Nvidia for the majority of its inference fleet. CEO Sam Altman noted that customers “put a big premium on speed for coding work.” Reuters
For AMD, talks with OpenAI bring fresh focus to a rivalry where chip speed, power efficiency, and software backing all weigh heavily. Still, changes in major clients’ purchasing usually surface first in guidance, not revenue.
Investors are keen to hear more about AMD’s data-center segment, particularly demand trends for AI accelerators and server CPUs. They’ll also want clarity on whether supply bottlenecks are loosening or getting worse. Pricing and gross margin updates will draw attention too, since costs can swing sharply with changes in the product mix.
However, talks with OpenAI don’t equate to confirmed sales, and OpenAI has confirmed that Nvidia still handles the bulk of its inference workload. If AMD’s guidance falls short or major customers tighten their budgets, the recent rally in the stock could reverse fast.
Goldman Sachs analysts point out that consensus forecasts for AI hyperscalers’ capital expenditures—the hefty data-center investments driving demand for advanced chips—have been climbing. This trend continues to push companies to deliver returns on those massive buildouts.
AMD’s earnings report drops after Tuesday’s close, with the management call set for 5 p.m. EST. Investors will zero in on concrete figures about data-center growth and look for new details on major customer rollouts that might shift the outlook for 2026.
