AMD Stock Soars on AI Mega-Deals – Is $300 Next?
AI Deals Ignite a Rally The catalyst for AMD’s October surge was clear: blockbuster AI contracts. On Oct. 6, AMD announced it would supply hundreds of thousands of GPUs (roughly 6 gigawatts of compute) to OpenAI over several years reuters.com. AMD executives hailed the pact as transformative. EVP Forrest Norrod called it “certainly transformative, not just for AMD, but for the dynamics of the industry” reuters.com. CFO Jean Hu said the OpenAI deal should “deliver tens of billions of dollars in revenue” and be “highly accretive” to future earnings ts2.tech. OpenAI CEO Sam Altman added that having AMD chips “will