AMD Stock Soars 30% on OpenAI Chip Deal, Boosting AI Bitcoin Mining Stocks

The artificial intelligence (AI) and high-performance computing (HPC) sector continues to see massive contracts, with OpenAI agreeing to purchase tens of billions worth of chips from Advanced Micro Devices (AMD). According to Financial Times, the deal could eventually include OpenAI acquiring up to 10% stake in AMD. AMD shares surged approximately 30% to $225 following the announcement. The chip agreement will deliver 6 gigawatts (GW) of total computing capacity. OpenAI executives estimate 1 GW capacity development costs approximately $50 billion, covering both chips and necessary infrastructure. Such large-scale deals typically trigger rallies in AI and HPC-focused Bitcoin mining stocks. During Monday's trading session: Bitfarms (BITF) gained 8%, IREN (IREN) rose 12% to record highs near $56, Hive Digital (HIVE) advanced 12%, Cipher Mining (CIFR) climbed 7%, CleanSpark (CLSK) added 5%, and TerraWulf (WULF) increased 5%. Galaxy Digital (GLXY) has become a major beneficiary of AI/HPC infrastructure re-pricing, converting its Helios campus into a large-scale AI/HPC data center. In August, the company secured $1.4 billion project financing for facility retrofitting and signed a long-term lease with CoreWeave (CRWV) covering 800 MW computing capacity. GLXY shares gained 5% Monday, combining the AMD news with GalaxyOne wealth management platform launch offering 4% yield on FDIC-insured cash and automated crypto/US equities investment. Year-to-date, GLXY shares have surged 116%.