SANTA CLARA (dpa-AFX) - Nvidia (NVDA) CEO Jensen Huang has revealed that he was surprised that Advanced Micro Devices (AMD) gave away 10% of the company in a 'clever' OpenAI deal.
Recently, OpenAI announced plans to take a 10 percent stake in AMD as part of a sweeping multibillion-dollar artificial intelligence (AI) hardware partnership. As part of the tie-up, OpenAI is poised to become one of AMD's largest shareholders
Last month, Nvidia also agreed to invest as much as $100 billion in OpenAI to help the leading AI startup fund a data center.
'It's imaginative, it's unique and surprising, considering they were so excited about their next-generation product,' Huang said in an interview with 'CNBC's Squawk Box.' 'I'm surprised that they would give away 10% of the company before they even built it. And so anyhow, it's clever, I guess.'
OpenAI has committed to purchasing 6 gigawatts worth of chips from AMD over multiple years, including its forthcoming MI450 series. As part of the agreement, OpenAI will receive warrants for up to 160 million AMD shares, with vesting milestones based on deployment volume and AMD's share price.
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