AMD Stock Skyrockets on AI Mega-Deal – Latest Price, Q3 Earnings Preview & Expert Analysis
AI Partnership Sparks Rally: AMD made headlines in October by announcing a blockbuster partnership with OpenAI. OpenAI agreed to deploy up to 6 GW of AMD’s Instinct GPUs over several years under a multi-year dealreuters.com. In exchange, OpenAI received warrants for up to 160 million AMD shares at a nominal price, vesting as deployment milestones are metreuters.com. AMD expects this deal to drive “tens of billions” in annual revenue and over $100 billion in total new sales from OpenAI and others in coming yearsreuters.comreuters.com. The announcement sent AMD stock soaring 34–35% in a single day, its biggest jump in nearly a decadereuters.com, adding ~$80 billion to AMD’s market cap. AMD’s EVP Forrest Norrod called the OpenAI deal “certainly transformative, not just for AMD, but for the dynamics of the industry”reuters.com. Analysts likewise saw it as a major “vote of confidence” in AMD’s AI productsreuters.com – even if it won’t topple Nvidia’s leadership overnight.