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.
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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.
Alphabet is emerging as a frontrunner in the global artificial intelligence race, as analysts and executives say Google has overtaken OpenAI, marking a sharp reversal from a year ago when the company was widely seen as lagging.
The U.S. should shut down its military bases in the Middle East, Iran's new Supreme Leader Mojtaba Khamenei said on Thursday (12 March). His words were read out by a broadcaster on state Iranian television.
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures at Hawaii Volcanoes National Park and part of a key highway as volcanic ash and debris fell over nearby areas.
More than 68,000 children in eastern Afghanistan have been displaced after clashes between Afghan and Pakistani forces intensified along the border, according to a new report by Save the Children.
Georgia has cancelled international tenders for the construction of major road sections that form part of a regional highway linking the country with the borders of Armenia and Azerbaijan.
Centuries-old palaces and mosques in Isfahan, Iran’s celebrated cultural capital, lie in ruins after a series of air raids struck the city’s historic centre, leaving officials to warn of a devastating loss to both national and global heritage. AnewZ’s Touraj Shiralilou visited the city.
Chinese electric vehicle giant BYD is pushing to make charging an electric car almost as quick and convenient as filling up a traditional petrol vehicle - a move that could help remove one of the biggest barriers to wider electric vehicle adoption.
South Korea will soon cease to be one of the few countries where Google Maps does not function fully, after its security-conscious government reversed a two-decade-old policy and approved the export of high-precision map data to overseas servers.
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