The post AMD And OpenAI Announce Multibillion Dollar Chip Deal—AMD Shares Surge 24% appeared on BitcoinEthereumNews.com. Topline AMD shares surged more than 24% in premarket trading on Monday after the chipmaker announced a new multibillion-dollar deal with OpenAI, in a move that looks to challenge AI giant Nvidia, which recently announced plans to acquire a 4% stake in rival Intel. OpenAI CEO Sam Altman and AMD Chair and CEO Lisa Su at a Senate Commerce Committee hearing on AI. Getty Images Key Facts The deal will see OpenAI acquire and deploy 6 gigawatt worth of AMD’s AI chips, starting with a 1 gigawatt deployment of AMD’s Instinct MI450 GPU next year. According to an SEC filing made by AMD, the chipmaker has issued OpenAI a warrant for up to 160 million shares, roughly 10% of the company, at one cent per share, which will be vested when specific share-price targets and commercial milestones are met. AMD’s share price surged 24% to $204.50 in the premarket early on Monday, following the deal’s announcement. This is a developing story. Source: https://www.forbes.com/sites/siladityaray/2025/10/06/amd-shares-surge-24-after-announcing-multibillion-dollar-deal-openai/The post AMD And OpenAI Announce Multibillion Dollar Chip Deal—AMD Shares Surge 24% appeared on BitcoinEthereumNews.com. Topline AMD shares surged more than 24% in premarket trading on Monday after the chipmaker announced a new multibillion-dollar deal with OpenAI, in a move that looks to challenge AI giant Nvidia, which recently announced plans to acquire a 4% stake in rival Intel. OpenAI CEO Sam Altman and AMD Chair and CEO Lisa Su at a Senate Commerce Committee hearing on AI. Getty Images Key Facts The deal will see OpenAI acquire and deploy 6 gigawatt worth of AMD’s AI chips, starting with a 1 gigawatt deployment of AMD’s Instinct MI450 GPU next year. According to an SEC filing made by AMD, the chipmaker has issued OpenAI a warrant for up to 160 million shares, roughly 10% of the company, at one cent per share, which will be vested when specific share-price targets and commercial milestones are met. AMD’s share price surged 24% to $204.50 in the premarket early on Monday, following the deal’s announcement. This is a developing story. Source: https://www.forbes.com/sites/siladityaray/2025/10/06/amd-shares-surge-24-after-announcing-multibillion-dollar-deal-openai/

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more