AMD · News · 20261104N

Customer Dynamics — AI Partnerships

ADVANCED MICRO DEVICES INC · 2026-11-04 · Importance 46 · Surprise 42

AMD’s chip-supply agreements with OpenAI and Meta include warrants that could allow the two customers to purchase up to 10% of AMD, subject to performance milestones. Reporting said shipments under the arrangements began during the third quarter, including MI450-series GPU shipments under client agreements. The customer agreements link AMD’s AI-chip supply to two major AI companies, although the reported $1.1 billion accounting charge associated with the warrants is excluded here.

Key facts

• The warrants accompany chip-supply agreements with OpenAI and Meta and could eventually let them purchase as much as 10% of AMD, subject to performance milestones. source
• AMD reported a $1.1 billion noncash charge in Q3 as it began accounting for stock warrants granted to OpenAI and Meta Platforms. source
• Shipments under AMD's warrant arrangements with OpenAI and Meta began during the quarter. source
• AMD began recognizing the accounting impact as it dispatched MI450-series graphics processing units under client agreements. source