AMD、 NVIDIA and Intel: AI computing power battle enters a new stage

‌I. Background Interpretation: AMD's Breakthrough Moment‌
For years, NVIDIA's GPUs have powered almost all major AI breakthroughs, from GPT-3 to ChatGPT. Its CUDA ecosystem, optimized for large-scale AI workloads, has become the default computing platform for AI innovation.
However, cracks are beginning to appear in this monopoly.
AMD's new agreement with OpenAI—a multi-year, cross-generational collaboration that will provide 6 gigawatts (6GW) of computing capacity—makes AMD's MI300X and next-generation MI450 accelerators the core of the new wave of AI infrastructure construction. The agreement also includes equity warrants, allowing OpenAI to purchase up to 10% of AMD's shares, deepening cooperation through shared interests.
For OpenAI, the motivation is clear: diversify the supply chain, reduce dependence on a single supplier, and secure better pricing amid constrained NVIDIA GPU supply.

‌II. NVIDIA's Dominance and Intel's Catch-up Efforts‌
NVIDIA still maintains absolute leadership in performance and ecosystem.
Its Blackwell B200 and Grace Hopper superchip series far surpass competitors in energy efficiency and scalability. More importantly, NVIDIA's CUDA software stack and vast developer ecosystem lock users into its system, creating a moat that extends far beyond hardware itself.
However, the company currently faces two major challenges:

Limitations in advanced HBM packaging technology and manufacturing capacity
Pricing pressure from hyperscale vendors exploring multi-supplier strategies

Meanwhile, Intel is striving to maintain its presence in this race. Its Gaudi 3 and upcoming Falcon Shores architecture employ a CPU-GPU hybrid approach targeting the AI acceleration market. Despite lagging market share, Intel leverages its deep accumulation in system integration, process technology, and wafer foundry operations to rebuild competitiveness through its AI PC and data center strategies.

‌III. Competitive Landscape Comparison

Dimension	AMD	NVIDIA	Intel
Recent Quarter Revenue	Total revenue approx. $7.7 B; D a t a c e n t e r a p p r o x .$ 3.2B	Total revenue approx. $46.7 B; D a t a c e n t e r a p p r o x .$ 41.1B	Data center and client combined approx. $13-15B
AI Accelerator Market Share	Approx. 10-15% and growing	Approx. 80-85%, industry leader	Low share in standalone AI accelerators; stronger in CPU and networking
Major AI Computing Partnerships	OpenAI: 6GW GPU supply + 10% warrant	Core supplier to OpenAI, Microsoft, Meta, Amazon	Building Gaudi/Falcon Shores/Arc accelerators
Strategic Advantages	Pricing competitiveness, ROCm ecosystem evolution, flexible supply chain	CUDA ecosystem, performance leadership, software lock-in effect	System integration, CPU-accelerator synergy, wafer fab scale
Core Risks/Challenges	Execution and HBM supply constraints, ecosystem maturity	Profit pressure, high dependence on major customers	Lagging software ecosystem, execution delays, capital intensity

‌IV. Implications for the AI Industry‌
The AI computing power race is no longer just about chip speed—it's about sustainable computing scale.
For NVIDIA, the challenge lies in maintaining leadership amid increasing competition and regulatory pressure;
AMD's success depends on flawless execution and software ecosystem (ROCm needs to mature faster);
For Intel, the window to return to the competition is narrowing—the progress of Gaudi 3 and Falcon Shores will determine its future in the AI field.

The next 18 months will define how AI workloads in global data centers are allocated, priced, and scaled. If AMD delivers on its promises, the AI computing market may see its first true multi-supplier balance—a positive signal for hyperscale vendors, cloud service providers, and AI startups alike.

‌Information Sources‌

AMD Q2 2025 Financial Report (ir.amd.com)
NVIDIA Q2 FY2026 Financial Report
Reuters "AMD and OpenAI Sign Multi-Billion Dollar AI Chip Supply Agreement" (October 2025)
TechInsights "2024-2025 AI Chip Market Share Report"
Alphabet Q2 2025 Financial Report
The Verge "AMD Teams Up with OpenAI to Challenge NVIDIA's Dominance"