Shares of Advanced Micro Devices Inc. rose 8% after announcing a significant deal with Meta Platforms Inc. for AI chips, potentially valued at over $100 billion. The agreement includes Meta purchasing custom MI450 graphics cards and Venice/Verano CPUs, along with a stock warrant allowing Meta to acquire an up to 10% stake in AMD if certain performance milestones terkait to chip delivery and AMD’s stock price are met. This partnership follows a similar deal AMD made with OpenAI, highlighting AMD’s growing presence in the AI chip market alongside competitors like Nvidia.
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AMD shares jump 8% on $100B+ AI chip deal with Meta
Shares of Advanced Micro Devices Inc. rose 8% after announcing a significant deal with Meta Platforms Inc. for AI chips, potentially valued at over $100 billion. The agreement includes Meta purchasing custom MI450 graphics cards and Venice/Verano CPUs, along with a stock warrant allowing Meta to acquire an up to 10% stake in AMD if certain performance milestones terkait to chip delivery and AMD’s stock price are met. This partnership follows a similar deal AMD made with OpenAI, highlighting AMD’s growing presence in the AI chip market alongside competitors like Nvidia.