Two U.S. lawmakers made timely trades in Advanced Micro Devices (NASDAQ: AMD) stock just weeks before the chipmaker announced a major deal with OpenAI, which sent its shares soaring.

Filings indicate that Representative Cleo Fields purchased between $15,001 and $50,000 worth of AMD shares on August 15, 2025, while his colleague Dan Newhouse bought between $1,001 and $15,000 on August 18, 2025. 

Both transactions were reported in early September, before AMD revealed its partnership with OpenAI a month later to supply billions of dollars’ worth of artificial intelligence chips over the coming years.

The agreement announced on October 6 involves AMD providing OpenAI with up to 6 gigawatts of GPU computing capacity using its next-generation Instinct MI450 chips. This move, analysts say, could generate “tens of billions” in new revenue and solidify AMD as a credible challenger to Nvidia’s dominance in the AI hardware market.

As part of the deal, OpenAI also received warrants to purchase up to 160 million AMD shares — roughly 10% of the company, contingent on future milestones tied to production and AMD’s stock price performance.

AMD stock soars over 30%

Following the announcement, AMD’s shares jumped about 34% in pre-market trading to $221

It’s worth noting that when Fields and Newhouse made their rades, the stock was underperforming the broader market. 

In this case, since the filings, AMD’s price has declined roughly 7% since Fields’ trade and 6.5% since Newhouse’s Congress trade. 

Their transactions came just as AMD’s stock appeared to be bottoming out ahead of the AI-driven rally.

Although there is no evidence of wrongdoing, the timing is notable given the potential for conflicts of interest.

Fields has also previously faced scrutiny over stock trades that raised questions about the possible use of insider information.

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