Meta and AMD have struck a multi-year deal for Meta to buy 6 gigawatts of AI chips. AMD will issue Meta 160 million shares of stock. The partnership aims to drive revenue growth and aligns both companies. Meta will also purchase AMD CPUs for its data centers. Last week, Meta made a similar agreement with Nvidia.

Meta plans to spend over $135 billion on AI expansion by 2026. Other tech giants like Amazon, Google, and Microsoft are collectively investing $650 billion in AI. Meta’s stock has only dropped 2.5% since announcing its spending plans. In contrast, Google, Amazon, and Microsoft have seen steeper declines in their stock prices.

Read more at Yahoo Finance: Meta and AMD announce 6-gigawatt GPU deal as part of AI buildout