AMD grants Meta a performance warrant for up to 160 million AMD shares

As part of the Meta agreement, AMD issued Meta a performance-based warrant for up to 160 million shares of common stock. The first tranche vests with the first gigawatt of shipments and more tranches vest as purchases scale toward 6 GW, but vesting also depends on AMD reaching stock price thresholds. Traders should treat it as a potential dilution cost tied to the volume of Meta's purchases.

• Performance warrant for up to 160 million AMD common shares issued to Meta
• First tranche vests with the initial 1 GW of shipments
• Further tranches vest as purchases scale to 6 GW
• Vesting also requires AMD stock price thresholds and Meta technical and commercial milestones