AMD strikes massive deal with OpenAI
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The deal is a huge shot in the arm for AMD, which has been playing second fiddle to Nvidia in the GPU game for the last several years. While Nvidia's stock is up over 1,300% in the last three years as it became the largest publicly traded company in the world, AMD is up a comparatively soft 200% in the same period.
The arrangement between OpenAI and AMD adds a new layer to the increasingly circular nature of AI's corporate economy.
Wall Street's main indexes were set to open higher on Monday, building on last week's gains, as AMD's chip-supply tie-up with OpenAI became the latest in a series of AI deals and offset concerns around a prolonged federal government shutdown.
Jim Cramer recalls the time when Lisa Su told her he's wrong about AMD stock. AMD shares' continued outperformance confirms she was right.
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