Meta (META) and AMD (AMD) are entering into a multi-year agreement that will see Meta purchase upward of 6 gigawatts worth of AI chips as part of its massive AI buildout. As part of the deal, announced Tuesday, AMD will issue Meta 160 million shares of common stock that will vest in a series of tranches if AMD hits certain milestones, the first of which will hit when AMD ships its first 1 gigawatts of chips. AMD stock closed at $196.60 on Monday. “We expect this partnership to drive substantial multi- ...