Shares of Advanced Micro Devices (AMD) closed 8.8% up on Feb. 24 after the company announced an expansion of its partnership with Meta Platforms (META). Under the new multi-year agreement, Meta will use AMD’s Instinct graphics processing units (GPUs) to power up to 6 gigawatts of artificial intelligence (AI) infrastructure. AMD’s expanding partnership network and large planned deployments strengthen its competitive position in the global AI buildouts. This deal also strengthens AMD’s position as the lead ...

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- ...