United States chipmaker AMD will supply artificial intelligence chips to OpenAI in a multi-year agreement that could generate tens of billions of dollars in annual revenue and give the ChatGPT maker the option to acquire up to 10% of the company.
Shares of AMD surged more than 34% on Monday following the announcement, marking their biggest one-day gain in over nine years and adding roughly $80 billion to the company’s market value.
The deal underscores the AI sector’s soaring demand for computing power as companies race to develop systems that match or surpass human intelligence.
“We view this deal as transformative — not just for AMD, but for the industry’s dynamics,” said Forrest Norrod, AMD’s executive vice president.
The agreement deepens ties between OpenAI and one of Nvidia’s key rivals, following Nvidia’s own major investments in the company.
Analysts say the move is a strong vote of confidence in AMD’s chips and software, though it is unlikely to threaten Nvidia’s market dominance.
AMD expects the partnership to bring in tens of billions annually and more than $100 billion in new revenue over four years from OpenAI and other clients. The company is forecast to post $32.78 billion in revenue this year, compared with Nvidia’s projected $206.26 billion.
“AMD has really trailed Nvidia for quite some time, so this helps validate their technology,” said Leah Bennett, chief investment strategist at Concurrent Asset Management. Nvidia shares slipped over 1% after the news.
The U.S. military is redirecting at least three Iranian-flagged tankers after intercepting them in Asian w...
Central Asian leaders have warned that worsening water shortages now pose a direct threat to regional stability, urging coordinated action and stro...
SoutSouth Korea’s national data protection agency said on Thursday it had imposed a significant fi...
China has released a military propaganda video hinting at a possible fourth aircraft carrier - its first to be nuclear-powered....
Russia has confirmed the suspension of Kazakh oil shipments to Germany via the Druzhba pipeline, citing technical reasons, in a move that could dis...
Florida’s Attorney General has launched a criminal probe into ChatGPT and its parent company OpenAI to investigate information the generative AI tool allegedly provided to a gunman who killed two people at Florida State University last year.
Former U.S. Treasury Secretary Larry Summers has announced that he will retire from teaching at Harvard University at the end of the academic year, amid renewed scrutiny over his ties to the late convicted sex offender Jeffrey Epstein.
The Pentagon has threatened to designate artificial intelligence firm Anthropic as a “supply chain risk” amid a dispute over the military use of its Claude AI model, according to a report published Monday.
ByteDance will take steps to prevent the unauthorised use of intellectual property on its artificial intelligence (AI) video generator Seedance 2.0, the Chinese technology firm said on Monday.
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
Iran’s Revolutionary Guards targeted three vessels, seizing two of them for alleged maritime violations and transferring them to Iranian shores, as U.S. President Donald Trump said Washington is extending its ceasefire with Iran until Tehran submits a proposal.
A gunman who killed seven people in a mass shooting in Kyiv on Saturday (18 April) had quarrelled with his neighbour before he opened fire on passersby, public broadcaster Suspilne cited Interior Minister Ihor Klymenko as saying on Tuesday.
Two local trains collided head-on north of Copenhagen on Thursday (23 April), injuring 17 people, five of them critically, according to emergency services.
The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday, exclusively to Reuters.
China’s software and information technology services industry is on track to exceed 20 trillion yuan (around $2.9 trillion), underscoring the country’s rapid digital expansion and growing influence in the global technology sector.
Taiwan’s rising prominence in the global artificial intelligence (AI) supply chain has powered a significant stock market rally, driven by soaring demand for advanced chips and servers.
The U.S. aviation regulator has ordered billionaire Amazon founder Jeff Bezos’s space company Blue Origin to ground its New Glenn rocket pending an investigation into a malfunction that prevented the proper deployment of a communications satellite during a launch from Florida on Sunday (19 April).
FindinFinding a job is becoming increasingly difficult for many young people in China, with some now turning to unusual methods, including dating apps, to improve their chances of employment.
Blue Origin, the U.S. space company of billionaire Amazon founder Jeff Bezos, successfully reused and recovered a booster for its New Glenn rocket launched from Florida on Sunday (19 April), in the latest chapter of its intensifying rivalry with Elon Musk’s SpaceX.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment