Nvidia Chief’s Not-So-Subtle Dig at AMD

AMD CEO Lisa Su should hope Nvidia CEO Jensen Huang takes digs at her more often. After Huang turned up on CNBC on Wednesday morning—where he discussed both the AMD-OpenAI chip deal announced on Monday and Nvidia's own dealmaking—AMD’s stock rallied 11%! The stock, which had jumped 24% on Monday but only inched up a bit on Tuesday, is now up 43% this week. Perhaps Huang inadvertently brought AMD’s success in getting its foot in the artificial intelligence chip door back to the forefront of investors’ minds. 

Whatever the reason for Wednesday’s rally, Huang’s comments suggested he’s a little irritated that Nvidia now has to share OpenAI’s business with AMD. To recap: The smaller chipmaker is selling OpenAI its newest AI chip, to be put to work starting in the second half of next year, and is giving the ChatGPT maker warrants for up to 10% of the company as part of the deal. Huang’s take on this was that considering how AMD was “so excited about their next-generation product, I’m surprised that they would give away 10% of the company before they even built it.”