On Tuesday, AMD said it recorded a $1.07 billion non-cash charge, or 66 cents a share, in the third quarter ended September 26 to account for these warrants
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AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
