Meta Agrees to $60B Deal for AMD AI Chips and 10% Stake in Company

Meta signed a $60B multi-year agreement with AMD to purchase AI chips totaling six gigawatts of power to fuel its artificial intelligence infrastructure.The deal allows Mark Zuckerberg's company to acquire up to 10% of AMD stock as the semiconductor firm reaches specific shipping milestones for its Instinct GPUs.Following the announcement, AMD shares surged nearly 15% as the company expands its reach in the AI market after a similar partnership with OpenAI.