AMD ký các thỏa thuận chứng quyền dựa trên hiệu suất với Meta và OpenAI để cung cấp tới 6GW GPU Instinct

The Huoxing Finance report, according to SemiAnalysis, reveals that AMD entered into performance-based warrant agreements with Meta and OpenAI from late last year to early this year. The warrants will vest in tranches based on the two companies purchasing and deploying up to 6GW of AMD Instinct GPUs, provided AMD’s stock price surpasses tiered targets (up to $600). As AMD’s stock price has risen from approximately $200 at the beginning of 2026 to the current range of $500–$600, SemiAnalysis estimates that the GPU capital costs for Meta and OpenAI have decreased from approximately $2.15/hour and $2.50/hour to about $1.60/hour and $1.75/hour, respectively. If AMD’s stock price reaches $600–$700, the capital cost of the GPUs themselves will approach zero; if it further surpasses $1,000, the entire capital cost of the clusters—including servers, networking, and CPUs—will effectively be zero for both companies. This analysis is based on a linear vesting assumption and full deployment of 6GW capacity; the specific terms of the warrants have not been disclosed.