In recent weeks, there has been a surge of agreements among companies in the artificial intelligence (AI) sector. During Nvidia's earnings call in August, Jensen Huang forecasted that global spending on AI infrastructure could soar to $4 trillion by 2030, setting the tone for this trend.
This suggests that the appetite for computing power is robust, and in the coming months and years, demand for AI chips could skyrocket. This would be advantageous for chip designers such as Nvidia, as well as competitors like Broadcom ( AVGO 0.03%) and Advanced Micro Devices ( AMD 3.29%). In fact, all three have already secured partnerships with one of the leading AI organizations today: OpenAI.
OpenAI, the AI research organization behind the widely used ChatGPT, requires massive computing resources to support its platforms. To meet these needs, it has recently partnered with top chip manufacturers to prepare for future growth. Let's take a closer look at these three agreements and determine which chipmaker stands to gain the most.

Image source: Getty Images.
Nvidia and rivals
First, a brief overview of these chip competitors. Nvidia, which pioneered the graphics processing unit (GPU) market, holds a commanding lead with its high-performance AI chips. AMD entered the field later but has made significant advancements, and some experts now believe its products can rival Nvidia’s. Broadcom, meanwhile, is recognized for its networking expertise and also develops XPUs—custom accelerators designed for specialized tasks. In contrast, Nvidia and AMD’s chips are versatile and suitable for a broad array of AI applications.
All three companies have experienced rising demand for their chips and have reported double-digit growth in AI-related revenue in recent quarters.
Now, let’s examine the OpenAI partnerships, starting with Nvidia. Last month, Nvidia announced plans to invest up to $100 billion in OpenAI as the lab builds out 10 gigawatts of Nvidia-powered systems over the next several years. The rollout is set to start in the latter half of next year, utilizing Nvidia’s upcoming Vera Rubin system. Nvidia will continue to invest in OpenAI as the deployment progresses. For context, the Department of Energy notes that one gigawatt is roughly equal to the output of 294 large wind turbines.
AMD and OpenAI
Earlier this month, AMD and OpenAI reached an agreement for OpenAI to use six gigawatts of AMD chips over several years, with deployment also beginning in the second half of next year. As part of the arrangement, AMD granted OpenAI a warrant for up to 160 million shares—about 10% of AMD’s total shares. These shares will vest as certain milestones are met, meaning OpenAI could eventually own a 10% stake in AMD through this deal.
Most recently, OpenAI revealed plans to jointly develop systems featuring Broadcom’s chips and networking technology. This collaboration will involve 10 gigawatts of Broadcom’s XPUs, with implementation also starting in the latter half of next year. The financial terms of this agreement have not been disclosed.
Which chip designer wins?
So, which chipmaker stands to benefit the most? While all three companies gain significant opportunities by powering OpenAI’s initiatives, Nvidia appears to have secured the most favorable arrangement, and here’s why.
By committing to invest in OpenAI, Nvidia has guaranteed that its GPUs will be central to the lab’s infrastructure expansion. This ongoing investment enables OpenAI to fund its scaling efforts, making Nvidia’s GPUs a cornerstone of the next phase of AI development. Additionally, with over $56 billion in cash reserves, Nvidia is well-positioned to make substantial, long-term investments.
All these factors are likely to drive continued revenue growth for Nvidia and could further boost its stock price as the AI industry enters this dynamic period.