AMD wins massive AI chip deal from OpenAI with stock sweetener

AMD, the semiconductor company, has secured a significant deal with OpenAI, the creator of ChatGPT. As part of the agreement, OpenAI will be allowed to purchase up to 10% of AMD's outstanding shares for a nominal price of one penny per share. The deal represents a significant win for AMD, as it solidifies its position in the growing artificial intelligence (AI) market. OpenAI, a prominent player in the AI field, has chosen AMD as its preferred partner for the development and deployment of its AI models and systems. The stock sweetener aspect of the deal is seen as a strategic move to strengthen the partnership between the two companies. By granting OpenAI the option to acquire a substantial stake in AMD, the agreement aims to align the interests of both parties and foster a long-term collaborative relationship. This deal is expected to have a positive impact on AMD's financial performance and solidify its position as a leading provider of AI-focused hardware and solutions in the rapidly evolving technology landscape.