Meta to spend billions of dollars on AMD gear, buy stock

By Ian King and Riley Griffin, Bloomberg

Meta Platforms Inc. will deploy 6 gigawatts’ worth of data center gear based on processors from Advanced Micro Devices Inc., a blockbuster deal that marks a win for the chipmaker’s attempts to catch up with Nvidia Corp.

Meta will buy AMD chips and computers designed to run artificial intelligence models over a five-year stretch, beginning in the second half of 2026. The series of transactions will be worth “double-digit billions” of dollars per gigawatt...