Advanced Micro Devices and OpenAI unveiled a multi-year strategic partnership under which OpenAI will deploy 6 gigawatts of AMD Instinct GPUs, beginning with a 1-gigawatt rollout in the second half of 2026 on the Instinct MI450 Series.
The companies disclosed the deal alongside a warrant granting OpenAI the right to acquire up to 160 million AMD shares, subject to deployment and other milestones.
Scale, timing, and products
AMD’s press materials describe a multi-generation commitment aligned to OpenAI’s model roadmap, with MI450 as the first platform and later products to follow. The initial 1GW is slated for 2026, signaling one of the largest single deployments of accelerator compute yet publicly outlined.
Equity warrant aligns incentives
OpenAI received a warrant for up to 160 million shares of AMD common stock. Tranches vest with deployment progress, including an initial vesting at the first 1GW and additional vesting as capacity scales toward 6GW.
The warrant structure could give OpenAI up to a 10% stake in AMD, with an exercise price of $0.01 per share and stock-price performance hurdles up to $600. AMD and OpenAI have not publicly filed detailed warrant terms on EDGAR as of publication.
Financial impact and market context
AMD says the agreement is expected to be “highly accretive” to non-GAAP EPS and could drive tens of billions of dollars in revenue over time.
The deal intensifies competition with Nvidia, which a week earlier announced a separate plan with OpenAI to deploy 10GW of Nvidia systems starting in 2026. OpenAI, which uses multiple suppliers and has explored custom silicon, appears to be diversifying sources while scaling data-center capacity.
