AMD Stock Skyrockets 30% After Major OpenAI Chip Deal, Boosting AI & Crypto Mining Stocks

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AMD stock jumped nearly 30% on Tuesday after the AMD OpenAI chip deal was announced, a move that sent ripples through Wall Street and the crypto mining sector.

The partnership makes AMD the primary supplier of OpenAI’s next wave of Instinct accelerators. For years, Nvidia held an overwhelming lead in AI hardware. Now, with the AMD OpenAI chip deal, traders see the first serious challenger to that dominance.

The rally spread beyond big tech. Crypto miners Riot Platforms and Marathon Digital surged 12% and 15%, with speculation mounting that AMD’s progress in high-performance computing could filter into consumer GPUs. GPUs still keep a big share of proof-of-work blockchains alive.

Bitcoin runs mostly on ASIC machines, but plenty of smaller coins still lean on GPUs. The AMD OpenAI chip deal raised expectations that faster cards could quickly reshape mining economics across several networks. What at first looked like a straight AI hardware win now carries weight for crypto too.

“This is a big moment for AMD and for the wider industry,” said CEO Lisa Su. “We’re excited to work with OpenAI on what comes next for intelligence.”

NEW YORK — OpenAI signed a multi-year partnership Monday with chipmaker Advanced Micro Devices as the ChatGPT-maker continues an investment spree to secure massive amounts of computing power for rolling out generative artificial intelligence. https://t.co/DD5wO0PIe4

— The Manila Times (@TheManilaTimes) October 7, 2025

Nvidia’s CUDA software has long locked developers into its ecosystem. By choosing AMD, OpenAI signaled that performance gains have caught up enough to justify the switch.

Analysts said the move could change the balance of power in both AI and blockchain infrastructure. “If AMD chips can train models at scale, they can almost certainly handle advanced cryptographic workloads as well,” one strategist noted.

By the end of trading, AMD had added more than $100 billion in market value. Nvidia dropped 5% as investors priced in the risk of a strong competitor emerging in AI, cloud systems, and crypto mining — all sparked by the AMD OpenAI chip deal. Read our full guide on the best crypto trading platforms for more insights.

Recap

• AMD stock surged nearly 30% on the AMD OpenAI chip deal.
• Market value rose by more than $100 billion in a single session.
• Nvidia fell 5% as traders factored in new competition.
• Crypto mining stocks, including Riot and Marathon, jumped by double digits.
• GPUs remain vital to proof-of-work chains outside of Bitcoin.
• Analysts say the deal could shift the balance in both AI and crypto.