Advanced Micro Devices recorded a $1.07bn non-cash charge, or 66c a share, in the third quarter ended September 26 to account for warrants tied to agreements with OpenAI and Meta Platforms, as shipments under the deals begin to ramp up. AMD in February agreed to sell up to $60bn 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 start-up the option to buy up to about 10% of the chipmaker. The chipmaker forecast faster-than-expected 2027 growth thanks to surging data centre sales, sending its shares up 8% in extended trading and pushing up stocks of Intel, Nvidia and Broadcom. The warrants risk diluting AMD shareholders, as OpenAI and Meta could own 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 shareholders once OpenAI and Meta satisfy vesting and exercise conditions, which include shipment and other commercial requirements, and AMD expects to provide more guidance in 2027 on when those conditions could be met.