AMD Has Promised OpenAI and Meta Up to 320 Million Shares for a Penny Each. Here's What That Does to the Share Count.
How much of the chipmaker might two of its big customers wind up owning?
Overview
When Advanced Micro Devices (NASDAQ:AMD) agreed in October 2025 to supply OpenAI with up to 6 gigawatts of its artificial intelligence (AI) chips, it also gave OpenAI a warrant for up to 160 million AMD shares at $0.01 each. In February, Meta Platforms (NASDAQ:META) signed on for up to another 6 gigawatts and got a similar deal.
The last batch of shares under each warrant carries a $600 stock price threshold. This looked far off when the OpenAI deal was announced, with AMD stock near $165. But the stock first closed above $600 on Sept. 21, and it traded around $616 as of this writing.
Details
At that price, 320 million shares would be worth about $197 billion.
Source
Originally published at www.fool.com.