6 October 2025
If you are covering the news of the deal between OpenAI and AMD, please see the following comment from Ben Barringer, global technology analyst at Quilter Cheviot:
“The news of the deal between OpenAI and AMD is an interesting development but one that’s not entirely surprising. For some time now, OpenAI has been looking to broaden out and diversify its chip supply, and this continued strategy has seen the company in talks with the likes of Broadcom and Nvidia. AMD is another big player in this space, so this deal is a logical move from OpenAI and is great news for AMD.
“When comparing it to the recent deal with Nvidia, there is a key difference in today’s announcement. In the deal between Nvidia and OpenAI, it was the former making the investment in the latter. In this deal, however, it is OpenAI investing in AMD. This sizeable investment comes in the form of a series of warrants set to vest at various milestones that are linked to the rollout of datacentre capacity.
“This deal will see OpenAI deploy six gigawatts of capacity over the next several years, with the first gigawatt set to deploy in the second half of 2026. This will use AMD’s soon to be released MI450, which is expected in early 2026.
