The wave of massive contracts in the artificial intelligence (AI) and high-performance computing (HPC) sector continues, with the latest coming from OpenAI, which has agreed to buy tens of billions of dollars worth of chips from Advanced Micro Devices ( AMD ) .

The deal, according to the Financial Times, could also see OpenAI acquire up to a 10% stake in AMD over time. AMD shares surged around 30% currently changing hands at about $225.

The chips purchased under this agreement will provide a total computing power capacity of 6 gigawatts (GW). OpenAI executives estimate that 1 GW of capacity costs roughly $50 billion to develop, including chips and the necessary supporting infrastructure, according to the article.

As a result, shares of AI and HPC-focused miners often rally on the back of such large-scale deals and infrastructure buildouts.

During Monday’s U.S. open: Bitfarms ( BITF ) gained 8%, IREN (IREN) rose 12% to trade at all-time highs around $56, Hive Digital ( HIVE ) advanced 12%, Cipher Mining ( CIFR ) climbed 7%, CleanSpark ( CLSK ) added 5%, and TerraWulf (WULF) was also up 5%.

Galaxy Expanding into AI/HPC

In August, the company secured $1.4 billion in project financing to retrofit the facility and signed a long-term lease with CoreWeave ( CRWV ) covering up to 800 MW of compute capacity.

It's shares were also higher by 5% on Monday as the AMD news combined with the company's launch of GalaxyOne, a new wealth management platform offering 4% yield on FDIC-insured cash and seamless auto-investment into crypto and U.S equities.

GLXY shares are now up 116% year-to-date.