AMD Invests $1 Billion in Meta Equity Offering and Expands AI Infrastructure Partnership

Advanced Micro Devices announced it will invest $1 billion in Meta Platforms' equity offering, becoming one of the first anchor investors in Meta's plan to raise up to $97.5 billion through stock sales to fund its artificial intelligence buildout. The deal is paired with a broad expansion of their strategic partnership covering processors, graphics chips, networking, systems, and software. AMD shares climbed more than 4% on the news, with some reports placing the intraday gain closer to 5%.

The partnership details are substantial. AMD confirmed that its first Helios rack-scale AI systems are now installed at Meta and undergoing testing ahead of broader deployment. Meta has already deployed millions of AMD EPYC processors, including those powering its Muse AI agent, while AMD Instinct GPUs are running in production for AI training, ranking, and recommendation workloads. Looking ahead, Meta plans to deploy a custom MI450-based Instinct GPU optimized for its workloads and is a lead customer for AMD's 6th Generation EPYC processors. The two companies are also deepening software collaboration across ROCm and PyTorch, building on a previously announced 6-gigawatt AMD GPU agreement.

AMD was not alone in backing Meta's offering. Nvidia separately announced a $3 billion investment in the same equity program alongside its own partnership expansion involving next-generation Vera Rubin chips, Spectrum-X Ethernet networking, and BlueField-4 data processing units. The combined $4 billion in chip-company commitments drew Wall Street scrutiny over the circularity of the financing structure, given that AMD and Nvidia are simultaneously Meta's largest hardware suppliers and now equity investors.

Separately, an analyst at GF raised AMD's price target to $720 ahead of the company's third-quarter results, scheduled for November 3. Cathie Wood's ARK Invest moved in the opposite direction, trimming its AMD position as part of a broader portfolio rotation. NVIDIA's Vera CPU, now shipping to hyperscalers with management expecting CPU revenue to more than double, adds a new competitive pressure on AMD and Intel in the server CPU market the two have long controlled.