OpenAI's cash burn makes the investing world go round, and today, makes shares of Advanced Micro Devices go way up.

The chip designer is surging after being the latest to strike a pact with the Sam Altman-led venture to accelerate the AI buildout, which AMD CFO Jean Hu said "is expected to deliver tens of billions of dollars in revenue."

The deal will see AMD sell multiple generations of its flagship GPUs to OpenAI, powering 6 gigawatts of its AI infrastructure. The first deployment is slated to start in the second half of 2026.

It's the latest in a series of recent aggressive steps from OpenAI to amass computing power for the AI boom, including massive deals with Broadcom and Oracle. To make good on these pacts will likely require equally aggressive moves from OpenAI to raise capital through private markets or, potentially, an IPO down the road.

Shares of Nvidia, the leader in AI GPUs, turned from positive to negative after this deal was announced.

As part of this agreement, AMD has issued warrants to OpenAI that enable the developer of ChatGPT to receive 160 million shares, or about 10% of the company, if certain operational and stock price targets are hit over time.

"This partnership brings the best of AMD and OpenAI together to create a true win-win enabling the world's most ambitious AI buildout and advancing the entire AI ecosystem," said AMD's CEO, Lisa Su.

"AMD's leadership in high-performance chips will enable us to accelerate progress and bring the benefits of advanced AI to everyone faster," added OpenAI co-founder and CEO Sam Altman.