On February 24 (local time), AMD unveiled a strategic five-year cooperation deal with Meta. According to the terms of this agreement, Meta is set to procure AMD artificial intelligence chips valued at up to US$60 billion over the ensuing five years, with a deployment capacity of 6 gigawatts. As an integral part of the agreement, AMD has issued Meta with performance-linked stock warrants. These warrants empower Meta to buy up to 160 million AMD ordinary shares in installments, at a strike price of a mere US$0.01 per share. Should the collaboration successfully reach specific technical and commercial benchmarks, and AMD's stock price hits the US$600 mark, Meta stands to potentially acquire roughly 10% of AMD's shares, thus becoming one of its principal stakeholders. Following the public announcement, AMD's stock price experienced a dramatic surge, climbing over 15% in pre-market trading.