Advanced Micro Devices recorded a $1.07 billion non-cash charge, or 66 cents a share, in the third quarter ended September 26 to account for warrants tied to chip deals with OpenAI and Meta Platforms, as shipments under the agreements begin to ramp up. AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker. The chipmaker forecast faster-than-expected 2027 growth thanks to surging data-center sales, sending its shares up 8% in extended trading and pushing up stocks of Intel, Nvidia and Broadcom. The warrants risk diluting AMD shareholders, with OpenAI and Meta potentially owning a large stake for as little as a penny apiece if the warrants fully vest and are exercised. AMD finance chief Jean Hu said the warrants would begin diluting AMD shareholders once OpenAI and Meta satisfy the vesting and exercise conditions, which include shipment and other commercial requirements.