Chipmaker NVIDIA Corp.'s CEO, Jensen Huang, shrugged off concerns regarding competition from Advanced Micro Devices Inc.

The deal is a huge shot in the arm for AMD, which has been playing second fiddle to Nvidia in the GPU game for the last several years. While Nvidia's stock is up over 1,300% in the last three years as it became the largest publicly traded company in the world, AMD is up a comparatively soft 200% in the same period.

AMD stock jumped again Tuesday, rising another 4% in premarket after rallying a ridiculous 24% the day before. That surge came right after the company locked

The OpenAI deal could unlock tens of billions in revenue for Advanced Micro Devices, with room for further upside. Click here to read why AMD stock is a Buy.

Data center networking equipment and components are just as important as chips when it comes to powering the artificial intelligence revolution.

Futures for the Dow Jones Industrial Average as well as the S&P 500 and Nasdaq rose early Monday to kick off the week in the black. Advanced Micro DevicesAMD skyrocketed on the stock market today as artificial intelligence giant OpenAI agreed to buy lots of AMD chips and a possible stake in the NvidiaNVDA rival.

AMD secures a major multi-year AI chip deal with OpenAI, enhancing long-term demand visibility and strategic positioning. Click to read why AMD is a Strong Buy.