00:00It's Benzinga bringing Wall Street to Main Street.
00:02Advanced Micro Devices unveiled a multi-year agreement to supply Meta platforms with 6
00:07gigawatts of GPUs to power the company's next-generation AI infrastructure, according to
00:12Barron's. AMD will award Meta a performance-based warrant for up to 160 million shares, or roughly
00:19a 10% stake. The final trench converts above an AMD stock price of $600. Deployment begins
00:26in the second half of this year. Meta said it will use the chips for AI inference and projected
00:30up to $135 billion in AI data centers spending this year. AMD shares rose 8.8% to $213.84,
00:40while Meta gained 0.3%. AMD reported $5.4 billion in fourth-quarter data center revenue,
00:47up 39% year-over-year. For all things money, visit Benzinga.com.
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