Meta Platforms (Facebook's parent company, hereinafter Meta) announced on the 24th (local time) that it has signed a large-scale AI (artificial intelligence) chip trading contract with US semiconductor company AMD. This comes just a week after signing a contract to supply millions of AI chips from Nvidia.
Through this agreement, Meta has also secured warrants to purchase 160 million AMD shares in stages. According to both companies, Meta will receive AMD shares when project progress and AMD's stock price reach certain benchmarks. In this case, Meta could become the largest shareholder by holding up to 10% of AMD's stake, foreign media reported.
Meta CEO Mark Zuckerberg announced AI infrastructure investment plans in January last year, saying "We plan to deploy tens of gigawatts of data center computing power over the next 10 years, and eventually expand to hundreds of gigawatts or more." Meta spent $72 billion on building AI data centers last year, and plans to invest up to $135 billion this year.
