Meta’s $100b AI chip bet heats up the Big Tech spending race

FACEBOOK PARENT TURNS TO AMD AFTER MASSIVE DEAL WITH RIVAL NVIDIA

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Facebook owner Meta Platforms has agreed to buy artificial intelligence chips from Advanced Micro Devices in a deal that could be worth up to $100 billion, deepening its push to secure computing power as global technology companies pour capital into AI infrastructure.

The agreement also gives Meta the option to acquire up to a 10 per cent stake in AMD through a performance-based financial instrument, potentially making the social media company one of the chipmaker’s largest shareholders if supply milestones are met.

Scale of the commitment

The AMD deal follows Meta’s announcement days earlier that it would deploy millions of AI chips from rival Nvidia for its data centres, underscoring the scale and urgency of its investment programme.