AMD and OpenAI agree 6 GW GPU deployment; OpenAI gets warrant for up to 160M AMD shares

AMD/Instinct MI450 / Helios

AMD and OpenAI signed a multi-year, multi-generation agreement for 6 gigawatts of AMD Instinct GPUs, beginning with 1 gigawatt of MI450 in the second half of 2026. AMD issued OpenAI a warrant for up to 160 million shares with performance-based vesting tied to deployment milestones, share price targets and commercial milestones.

• 6 gigawatts of AMD GPUs over multiple generations, starting with 1 GW MI450 in H2 2026.
• Warrant for up to 160 million AMD shares vests as deployment milestones are met.
• Warrant vesting depends on AMD reaching share-price targets and OpenAI meeting technical milestones.
• Expected to deliver tens of billions in revenue for AMD.