Bernstein's Stacy Rasgon said the setup for AMD's third-quarter earnings report "admittedly looks solid" even though there's so much of a longer-term focus around the stock now. He noted that the company's core personal-computer and server markets "are looking better in the near term,

While this deal is important for AMD, what it really signaled was that a leading generative AI company plans on using AMD's hardware. That's a big deal, as AMD's technology has always been seen as a downgrade from Nvidia.

Shares of the chipmaker surged on Monday, putting them on track for their biggest one-day gain in over nine years and adding roughly $80B to its market value.

OpenAI partners with semiconductor giant AMD to utilize next-generation graphics processing units for powering AI advancements.

AMD's data center revenue should generate $4.1 billion in Q3, up from $3.5 billion in the prior year, while the company's client segment, which includes sales of CPUs for laptops and desktops, should see $2.6 billion, up 38% year over year. AMD's gaming division is expected to pull in $1.1 billion, up 139%.

OpenAI has committed to spend about $1.4 trillion on infrastructure so far, equating to roughly 30 gigawatts of data center capacity, CEO Sam Altman said on Tuesday. Why it matters: The statement helps clarify the many announcements the company has made with its chip,

Over the past six months, AMD stock gained a whopping 164%. The deal with OpenAI for 6 GW of power for OpenAI's AI infrastructure across multiple generations of AMD Instinct GPUs managed to give a great boost to the stock.