David Gurra

Meta flat had been slightly softer.

At one point in the session, AMD was up about 9% and on track for its best day since November.

This is a six gigawatt deal.

Meta has agreed to buy AMD chips and data center supplies in a deal worth double digit billions per gigawatt.

This is the social media giant looks to prioritize.

It's AI ambitions here to break it down.

Bloomberg's Ian King on the chip side, Riley Griffin on the meta side around the table.

Ian, I'm going to start with you.

The basics of the deal, six gigawatts over time, AMD accelerators, but also other gear.

It's a big deal for them.

Riley, this is all about metacompute.

Talk us through just how large the scale is for demand for this sort of infrastructure right now.

The warrants part is very interesting.

It's very similar to what AMD did with OpenAI.

There are operational and financial milestones in both directions in order for Meta to potentially become a very big shareholder of AMD.

Could you explain that, Ian?

It was really interesting to read through the materials in our reporting, Riley.

AMD has played this card before.

The emphasis is on inference.

So MI450 generation of accelerator, the engineering teams will work together.