The deal is a huge shot in the arm for AMD, which has been playing second fiddle to Nvidia in the GPU game for the last several years. While Nvidia's stock is up over 1,300% in the last three years as it became the largest publicly traded company in the world, AMD is up a comparatively soft 200% in the same period.

Three years after OpenAI and Nvidia Corp. helped kick off the global artificial intelligence frenzy, the two firms are joining forces to pave the way for a more costly phase of development with a

OpenAI CEO Sam Altman is thinking long-term about his company's access to the AI chips that are so vital in the AI race.

AMD unveiled its next-generation Instinct chips at a launch event in July, when CEO Lisa Su took the stage with OpenAI CEO Sam Altman to announce that the AI giant would use the new chips.

Goldman Sachs analyst James Schneider reportedly raised the price target on Nvidia Corp. (NVDA) stock, stating that the AI bellwether’s strategic investments and partnerships with companies like OpenAI will drive the stock further upward.