In a surprising twist in the artificial intelligence (AI) chip wars, Nvidia (NVDA) CEO Jensen Huang expressed astonishment over rival Advanced Micro Devices’ (AMD) decision to grant OpenAI up to a 10% ownership stake as part of their newly announced multibillion-dollar partnership. Speaking on CNBC’s “Squawk Box,” Huang described the move as “imaginative” and “unique,” but said he was surprised that AMD would “give away 10% of the company before they even built” the next-generation product. The announcemen ...

OpenAI and the chipmaker AMD announced on Monday that they had signed a multibillion-dollar chip deal that would also give the ChatGPT creator the option to buy a large stake in the chipmaker.The deal offers OpenAI an opportunity to buy 10% in AMD and marks a major vote of confidence in the company’s AI chips and software. Shares of AMD surged more than 30% and added about $80bn to its market capitalization after the announcement.“We view this deal as certainly transformative, not just for AMD, but for the ...