Shares of Sanmina Corporation (NASDAQ: SANM) jumped more than 22% intra-day on Monday after AMD (NASDAQ: AMD) and OpenAI announced a strategic partnership to deploy 6 gigawatts of AMD GPUs.
The rally followed investor optimism that the deal could benefit Sanmina’s pending acquisition of ZT Systems’ data center infrastructure manufacturing business from AMD, first disclosed in May. Under the agreement, Sanmina would become AMD’s U.S.-based new product introduction (NPI) manufacturing partner, potentially positioning it to capitalize on AMD’s expanding artificial intelligence infrastructure partnerships.
The AMD-OpenAI agreement called for OpenAI to purchase 6 gigawatts of AMD chips, beginning with the MI450 model next year. Although the financial impact on Sanmina remained uncertain, analysts suggested the company could gain if OpenAI or its affiliates selected Sanmina to assemble GPU racks for the project.
