Advanced Micro Devices Inc.’s stock saw its highest close since March 2024 on Monday after the news that OpenAI plans to deploy AMD’s chips to support the massive amount of computing power it needs for its AI-infrastructure buildout.

Under a multiyear

agreement announced on Monday morning, AMD AMD said OpenAI will deploy 6 gigawatts’ worth of multiple generations of its graphics processing units, which will be used for training and running OpenAI’s next-generation AI models. The first gigawatt will be powered by AMD’s Instinct MI450 series of chips and Helios rack-scale AI systems, and is expected to be deployed in the second half of next year, AMD said in a statement.