AMD Has Promised OpenAI and Meta Up to 320 Million Shares for a Penny Each. Here's What That Does to the Share Count.

AMD gave warrants to OpenAI and Meta for up to 160 million shares apiece at $0.01 a share, vesting as each buys up to 6 gigawatts of its AI chips. If both warrants fully vest and are exercised, the two companies would hold around 16% of an enlarged AMD.