In the ongoing war of AI investment, OpenAI has secured itself a new ally: AMD. The chip maker will trade millions of its upcoming Instinct MI450 GPUs for an investment by the AI company, worth up to 10 percent of its stock.

The numbers, though, remain vague. The deal hinges on AMD’s ability to deliver “6 gigawatts” worth of Instinct MI450 GPUs, a rack-scale enterprise GPU chip that the chip manufacturer hasn’t begun shipping yet. If it begins shipping the MI450 by an undisclosed milestone and in undisclosed amounts, then OpenAI has warrants to buy the company’s stock, worth up to 160 million shares. That would be about 10 percent of its current outstanding shares, according to CNBC .

AMD must deliver its first tranche, or shipment, of MI450 GPUs by the second half of 2026, worth one g

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