AMD shares skyrocketed nearly 38 per cent to a 52-week high of $ 226.71 apiece on Monday, after the company announced a strategic partnership with AI behemoth OpenAI to deploy 6 gigawatts of AMD GPUs. The AI chip-supply deal includes warrant for OpenAI to purchase up to 10 per cent ni AMD at 1 cent per share, both companies said in a joint statement.

AMD expects over $100 billion in revenue through the deal.

AMD-OpenAI sign multi-year deal

AMD said that the multi-year deal will require it to supply AI chips to OpenAI, giving the ChatGPT AI bot creator the option to buy up to roughly 10 per cent of the chipmaker.

The spike in the AMD stock added $80 billion to the company’s market value, foreign media reported.

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AMD-OpenAI deal details

The agreem

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