Advanced Micro Devices Inc. (AMD) hit a fresh all-time high Monday, climbing 8.4% to $606.98 and extending its 2026 advance to roughly 183%.

The catalyst stack is unusually deep.

OpenAI agreed to deploy 6 gigawatts of AMD Instinct GPUs across multiple hardware generations, starting with a 1-gigawatt MI450 rollout in the second half of this year.

Oracle Corp. (ORCL) separately committed to 50,000 MI450 accelerators over the same window. Raymond James upgraded the stock to Strong Buy with a $641 target.

Management calls the OpenAI arrangement immediately accretive, with a path to tens of billions in annual AI data center revenue from 2027.