Advanced Micro Devices (AMD) stock popped 24% on Monday, as investors cheered its lucrative deal with OpenAI (PC:OPAIQ), under which the ChatGPT maker will deploy up to 6 gigawatts of AMD’s graphics processing units (GPUs) over multiple years. AMD stock was up 4% in Tuesday’s pre-market trading. Wall Street cheered the partnership, with many top analysts raising their price targets to reflect optimism about AMD’s growth prospects.
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Interestingly, under the deal, AMD has issued OpenAI a warrant for up to 160 million shares, structured to…
