AMD’s OpenAI warrant covers up to 160 million shares as the chipmaker’s stock hits $631 and market value tops $1 trillion

AI Market Summary
AMD's warrant grant to OpenAI (up to 160M shares) ties potential dilution and upside participation to AMD hitting price targets and OpenAI taking chip delivery, effectively signaling large, contingent AI-accelerator demand. The reported surge in AMD's share price and $1T+ market cap reinforces momentum around AI supply constraints and order backlogs, heightening sensitivity to delivery timelines, capacity expansion, and contract economics.
Impact level
● High
Affected assets
NCSKAMD2USD/USDT+2.49%
AI Insight · NCSKAMD2USD/USDTAI Insight
▲ Bullish
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AMD granted OpenAI a warrant for up to 160 million shares a year ago, with the biggest potential payouts tied to AMD’s shares reaching preset price targets and to OpenAI taking delivery of the chips. AMD’s stock climbed to $631 last week. That move pushed the company’s market value above $1 trillion.