Shares in AI, high-performance computing (HPC), and Bitcoin mining companies surged after OpenAI announced a multi-billion-dollar chip agreement with Advanced Micro Devices (AMD).

According to the Financial Times, the deal could also allow OpenAI to acquire up to a 10% stake in AMD over time. AMD shares jumped roughly 30%, trading around $225, as the company prepares to supply chips providing a total computing power of 6 gigawatts (GW). OpenAI estimates that each GW of capacity costs about $50 billion, including chips and infrastructure.

The announcement boosted AI and HPC-focused Bitcoin miners as investors anticipate increased demand for compute-heavy operations. Monday premarket moves included Bitfarms (BITF) up 8%, Iris Energy (IREN) gaining 12% to an all-time high near $56, Hive Digital (HIVE) up 12%, Cipher Mining (CIFR) up 7%, and CleanSpark (CLSK) and TerraWulf (WULF) both rising 5%.

Galaxy Digital (GLXY) also benefited, with shares up 5%. The company recently converted its Helios campus into a large-scale AI/HPC data center and secured $1.4 billion in project financing. It signed a long-term lease with CoreWeave (CRWV) covering up to 800 MW of compute capacity. Galaxy’s new wealth management platform, GalaxyOne, offering a 4% yield on FDIC-insured cash and auto-investment into crypto and U.S. equities, further supported gains. GLXY shares are now up 116% year-to-date.