Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) extended their momentum in after-hours trading on Monday, rising 1.53% following a nearly 24% surge during the regular session.
AMD CEO Lisa Su Dismisses AI Hype Concerns
On Monday, AMD CEO Lisa Su said the AI boom is just beginning, dismissing concerns that the current investment surge is overblown.
"I would say that's probably thinking too small. You have to really look at what the power of this technology can do for the world," she told Yahoo Finance on Monday.
Her comments came after AMD announced a landmark deal with ChatGPT-maker OpenAI to provide up to six gigawatts of Instinct GPU power for the company's next-generation AI infrastructure.
The multi-year agreement begins in 2026 with AMD's new MI450 chips and could generate "tens of billions of dollars" in revenue, according to Su.
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OpenAI CEO Sam Altman Says The World Needs Much More Compute
OpenAI CEO Sam Altman confirmed the partnership on X, formerly Twitter, saying it complements his company's ongoing work with Nvidia Corporation (NASDAQ:NVDA).
"The world needs much more compute," he wrote.
Last month, Nvidia pledged $100 billion to OpenAI, including plans to roll out at least 10 gigawatts of its Vera Rubin systems beginning in the second half of 2026.
OpenAI co-founder and president Greg Brockman shared Alman's post and said, "The world continues to underestimate AI demand: we're already compute bottlenecked on launching new features."
AMD ranks highly in Benzinga's Edge Stock Rankings, showing strong medium and long-term price trends despite short-term weakness. Click here for a closer look at the stock, its peers and competitors.
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