OpenAI reportedly secured warrants for up to 160 million AMD shares—potentially a 10% stake—tied to deploying 6 gigawatts of compute. This flips the usual supplier‑financing story, with a major AI customer gaining direct equity in a critical chip supplier. It hints at tighter vertical entanglement in the AI stack.
— Customer–supplier equity links could concentrate market power, complicate antitrust, and reshape industrial and energy policy as AI demand surges.
msmash
2025.10.08
90% relevant
The article reiterates the core facts of OpenAI’s warrants for up to 160M AMD shares (~10%) tied to a 6 GW chip procurement and adds Jensen Huang’s on‑record reaction calling the deal 'clever' and 'surprising,' reinforcing the significance of customer–supplier equity entanglement in the AI stack.
msmash
2025.10.06
95% relevant
The article reports OpenAI committing to 6 GW of AMD chips and receiving warrants for up to 160 million AMD shares (~10%), precisely matching the described customer–supplier equity tie-up that concentrates power and reshapes competition in AI hardware.
Alexander Kruel
2025.10.06
100% relevant
CNBC report: OpenAI–AMD 6 GW agreement with warrants enabling up to a 10% OpenAI stake in AMD.