Advanced Micro Devices Inc.’s (NASDAQ:AMD) multi-year deal with OpenAI could unlock $135 billion in revenue and mount a serious challenge to Nvidia Corp.’s (NASDAQ:NVDA) long-standing dominance, according to Goldman Sachs.
In a note shared Tuesday, the bank’s analyst James Schneider called the announcement "a strong positive" for the AMD’s long-term GPU business and significantly raised its earnings estimates and price target.
