AMD · 10-Q · 2026Q2 · Full report
Acquisition / Partnership / Divestiture
ADVANCED MICRO DEVICES INC · 2026-08-05 · Importance 65 · Surprise 60 · No source text
AMD also entered a February 2026 multi-year agreement with Meta Platforms under which Meta intends to deploy up to 6 gigawatts of AMD data center GPUs. The first gigawatt of the Meta deployment is tied to AMD Instinct MI450 series products. AMD issued Meta a warrant for up to 160 million common shares at a $0.01 exercise price, with vesting linked to GPU purchase milestones and AMD stock-price or performance conditions. AMD’s six-month 2026 investing cash flow included $243 million of payments related to customary net working-capital adjustments for the divestiture of the ZT Manufacturing Business.
Key facts
- In connection with the OpenAI and Meta agreements, AMD issued each customer a warrant to purchase up to 160 million shares of common stock at an exercise price of $0.01 per share. source
- Net cash used in investing activities of continuing operations was $2,633 million for the six months ended June 28, 2025, primarily consisting of cash used in acquisitions of $1.7 billion, purchases of short-term investments of $796 million, purchases of strategic investments of $358 million, and purchases of property and equipment of $494 million, partially offset by $731 million of proceeds from maturity and sale of short-term investments. source
- As of June 27, 2026, no warrant tranches had vested or become exercisable and the warrants had no impact on results for the three and six months ended June 27, 2026. source
- Net cash used in investing activities of discontinued operations was $243 million for the six months ended June 27, 2026, representing payment for customary net working capital adjustments related to the divestiture of the ZT Manufacturing Business. source
- Net cash provided by operating activities of ZT Manufacturing Business, classified as discontinued operations, was $549 million in the prior period. source
- Net cash used in investing activities of the ZT Manufacturing Business, classified as discontinued operations, was $22 million for the six months ended June 28, 2025 due to purchases of equipment. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | contingent | 0.0% | In connection with the OpenAI and Meta agreements, AMD issued each customer a warrant to purchase up to 160 million shares of common stock… |