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AMD Stock Surges 40% on OpenAI Partnership, Investor Sees Further Growth Potential
AMD Stock Surges 40% on OpenAI Partnership, Investor Sees Further Growth Potential
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BTCCSquare news:
Advanced Micro Devices (AMD) shares have skyrocketed over 140% in the past six months, with a 40% surge this week alone following a strategic partnership announcement with OpenAI. The deal involves deploying six gigawatts of AMD GPUs for large-scale AI deployments, with OpenAI receiving warrants for up to 160 million AMD shares.
Investor Kenio Fontes considered profit-taking but concluded the partnership could unlock significant value. "The deal with OpenAI should unlock a lot of value for AMD," Fontes noted, emphasizing the substantial scale of the six-gigawatt commitment and potential for upside if execution succeeds.
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