Giá cổ phiếu AMD tăng có thể giúp giảm chi phí vốn gần như bằng không cho Meta và OpenAI trên GPU

The Huoxing Finance report states that on August 4, the semiconductor and AI independent research firm SemiAnalysis published a report indicating that AMD reached agreements with Meta and OpenAI at the end of last year and early this year to provide performance-linked warrants. These warrants will vest based on the procurement and deployment of up to 6GW of AMD Instinct GPUs, as well as whether AMD’s stock price crosses multiple thresholds, with the highest threshold set at $600. AMD’s stock price has risen from approximately $200 at the beginning of 2026 to its current level of around $500 to $600. Assuming the vesting of stock-linked warrants follows a roughly linear pattern and all 6GW capacity is fully deployed, the hourly capital cost per GPU for Meta and OpenAI would decrease from approximately $2.15 and $2.50 to about $1.60 and $1.75, respectively. SemiAnalysis noted that if AMD’s stock price rises to the $600–$700 range, the capital cost for these two companies—specifically for GPUs alone—could effectively drop to zero. If AMD continues to improve its software stack, secures more large-scale customer orders, and drives its stock price above $1,000, the entire cluster capital cost—including servers, networking, and CPUs—could theoretically approach zero.