AMD Soars as OpenAI Deal Sparks Wall Street Momentum

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•  06 Oct 2025
 

•   BITF  
   
  +14.95%
•   HIVE  
   
  +25.17%
•   MARA  
   
  +9.30%
•   MSFT  
   
  +2.17%
•   MSTR  
   
  +2.29%

Wall Street opened with mixed signals today as the Nasdaq climbed 0.3% and the S&P 500 edged up 0.1%, while the Dow dipped 0.3%, following a strong week where the S&P 500 and Nasdaq added roughly 1.1% and 1.3%, respectively. Despite ongoing U.S. government shutdowns delaying key macroeconomic data, optimism remains strong as traders look ahead to continued gains through the end of 2025. Analysts at Fundstrat project the S&P 500 could reach 7,000 points by year-end, emphasizing that past shutdowns had minimal impact on stock performance. Market watchers are now focused on upcoming Federal Reserve insights, including Jerome Powell’s speech on Thursday, which could shed light on future interest rate moves amid the data blackout.

$AMD shot up 28% after announcing a multiyear partnership with OpenAI, backed by $MSFT, to supply six gigawatts of GPU power for AI infrastructure. The deal is expected to generate tens of billions in revenue for AMD, and includes options for OpenAI to purchase up to 160 million shares, tied to technological and price milestones, including a target of $600 per share. CFO Jean Hu highlighted that the partnership positions AMD at the forefront of the AI era, while OpenAI CEO Sam Altman called it “a major step toward building the computing capabilities required for AI full potential.”

$MU also impressed, climbing 6% after Morgan Stanley upgraded its rating to overweight, citing strong demand for DRAM and NAND memory. Analysts expect several quarters of double-digit price increases, with potential supply constraints extending into 2026, driving a new price target of $220, roughly 17% above its previous close.

Bitcoin breached $125,000 over the weekend, pushing $BITF, $MSTR, $RIOT, $MARA, and $HIVE higher. Market momentum was fueled by uncertainty from the ongoing U.S. government shutdown, which paused critical employment reports and drove investors toward alternative assets. Historically, October has been a bullish month for Bitcoin, earning the nickname “Uptober,” and this year is no exception.

$PLUG, which hit a new annual high after H.C. Wainwright raised its price target to $7, and $FFLY, climbing 6% following the acquisition of SciTec for $855 million, strengthening its defense and advanced data capabilities. Meanwhile, $QC plunged 15% after announcing a $750 million private capital raise to expand commercialization and production capacity, expected to close around October 8.

Commodities reflected cautious optimism. gold gained 1.5% to surpass $3,940 an ounce, silver rose 0.8% to $48.4, and crude oil climbed 0.8% to $61.37 per barrel. Treasury yields ticked slightly higher across maturities, signaling a market bracing for the Fed’s next moves amid ongoing uncertainty.

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