OpenAI-AMD pact adds fuel to boom, boosting AI stocks
The news of the day — OpenAI’s megadeal with Advanced Micro Devices that will see the former purchase tens of billions’ worth of AI GPUs and receive up to a 10% equity stake in the latter — is cascading out through markets, providing a lift to other companies in the ecosystem.
Nuclear energy firm Oklo is now an even more valuable zero-revenue company thanks to this news.
Server company Super Micro Computer also added to its advance, rising as much as 8% in early trading.
The world’s most important foundry company, TSMC, got a boost from this news, up more than 4%.
So-called “neocloud” Nebius jolted upward on this announcement, while peer CoreWeave (which is much more closely tied to Nvidia, which is down on the news) dipped, but has since reversed that drop to even outperform its counterpart.
Bitcoin miners turned data center companies IREN and Cipher Digital built on their early gains in response, though the latter has now given back most of that rise.
In other words, the deal is providing the same kind of reassurance on the strength of the AI boom that was seen in the wake of Microsoft and Meta’s most recent earnings announcements, which underscored their commitment to the AI data center build-out.
