AMD’s stock is rising. Here are two reasons for Wall Street’s optimism.

Fresh off its monumental deal with OpenAI, Advanced Micro Devices Inc. isn’t letting up as it tries to keep pace with Nvidia Corp. in the booming market for artificial-intelligence chips.

AMD

AMD said on Tuesday that it is counting on Oracle Corp.’s ORCL Oracle Cloud Infrastructure to help it launch the first publicly available supercluster of its next-generation AI chips. The AI supercluster will initially be powered by 50,000 Instinct MI450 series graphics processing units starting in the third quarter of next year, and will also be supported by AMD’s first rack-scale solution, Helios, which can hold 72 chips to work together.