AMD’s shares surge on deal to supply AI chips to OpenAI | Technology News

The deal also gives the ChatGPT creator the option to buy upto 10 percent of AMD.

United States chipmaker AMD will supply artificial intelligence chips to OpenAI in a multi-year deal that would bring in tens of billions of dollars in annual revenue and give the ChatGPT creator the option to buy up to roughly 10 percent of the company.

Shares of the chipmaker surged more than 34 percent on Monday when the deal was…