AMD Faces $1 Billion Quarterly Charge From OpenAI, Meta Chip Deals
AMD’s chip agreements with OpenAI and Meta are beginning to weigh on profits, with a $1 billion quarterly charge reported.
By Max A. CherneyAdvanced Micro Devices' NASDAQ:AMD strategy of offering stakes in its future success to major AI customers OpenAI and Meta Platforms NASDAQ:META in exchange for big chip commitments is beginning to leave a sizeable imprint on its profits.AMD in February agreed to sell up to $60 bil…