Shares of Advanced Micro Devices, Inc. (AMD) climbed on Tuesday after the chipmaker announced a long-term artificial intelligence infrastructure partnership with Meta Platforms, Inc. (META).
The stock is currently trading at $210.05, up $13.45 or 6.84%, on the Nasdaq. The stock opened at $211.66 after closing Monday at $196.60. The stock has traded between $76.48 and $267.08 in the past 52-week period.
AMD and Meta said they reached a multi-year agreement to deploy up to 6 gigawatts of AMD Instinct GPUs to support Meta's next-generation AI infrastructure. The collaboration expands their existing partnership and aligns silicon, systems, and software roadmaps to optimize AI performance.
Shipments for the first 1-gigawatt deployment are expected to begin in the second half of 2026 using custom AMD Instinct GPUs and next-generation EPYC processors. AMD said the partnership is expected to drive significant multi-year revenue growth and contribute positively to adjusted earnings over time.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.