Here Are Some Of The Biggest Winners Of This Year’s AI Infrastructure Boom

ByPhoebe Liu,

Forbes Staff.

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t’s been a big year for AI infrastructure deals. In just the last month, OpenAI, Oracle, Nvidia, AMD and others have announced epic transactions worth hundreds of billions of dollars. The deals are complex, unconventional—and often circular: Nvidia’s up to $100 billion investment in OpenAI, announced late last month, for instance, will allow OpenAI to purchase Nvidia GPUs to build out its own data center capacity. In a similar deal that flips who gets equity, AMD and OpenAI announced their own strategic partnership on Monday in which OpenAI got a warrant for up to 160 million shares of AMD common stock, or 10% of AMD’s shares, that vests in tranches based on OpenAI using 6 gigawatts of AMDs GPUs over a period of time.

Behind this spate of deals is something of a stampede mentality. “The world needs much more compute,” OpenAI CEO Sam Altman posted on X announcing the AMD deal. Altman has been trumpeting that “more compute is more important now than ever before to succeed at our mission” for years.