OpenAI just inked another multibillion-dollar deal.

The AI giant is buying 6 gigawatts and billions of dollars worth of Nvidia-rival chipmaker AMD’s latest generation chips to power its next-generation AI infrastructure.

AMD unveiled its next-generation Instinct chips at a launch event in July, when CEO Lisa Su took the stage with OpenAI CEO Sam Altman to announce that the AI giant would use the new chips.

The first 1 gigawatt of that deployment is set to begin in the second half of 2026. As OpenAI hits deployment targets, it will also gradually receive a total of 160 million AMD shares at 1 cent each, which translates to a roughly 10% stake in the chipmaker.

Nvidia is still the leader in the global chip industry, but AMD is its closest rival in the U.S., and Thursday’s deal gives the

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