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Advanced Micro Devices Inc.(AMD) stock reached a record high of $230.36 on Wednesday after NVIDIA Corp. (NVDA) CEO Jensen Huang reportedly expressed surprise over the company’s 10% stake offering to OpenAI. 

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The chip maker had inked a major infrastructure agreement with OpenAI and granted the ChatGPT maker a warrant for up to 160 million shares of its common stock on Tuesday. 

During an interview with CNBC, Huang called the move “imaginative,” adding that “it’s unique and surprising,” given AMD’s enthusiasm for its upcoming product. 

“I’m surprised that they would give away 10% of the company before they even built it, Huang said, adding, “It’s clever, I guess.”

AMD stock traded over 8% higher on Wednesday afternoon and was among the top five trending equity tickers on Stocktwits. Retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels. 

The infrastructure part of the agreement will begin with a 1-gigawatt deployment of AMD’s Instinct MI450 GPUs in the latter half of 2026. Under the terms, AMD will serve as a core hardware provider for OpenAI’s next wave of infrastructure. The collaboration will kick off with the MI450 series and extend into future generations of AI chips and rack-level solutions. 

According to the report, AMD’s deal with OpenAI is seen as a challenge to Nvidia’s dominance in AI chips. In September, Nvidia announced plans to inject up to $100 billion into OpenAI over the next decade. 

AMD stock has gained over 92% year-to-date and over 34% in the last 12 months. 

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