On August 4, Advanced Micro Devices rose 3.9% in regular trading, trading at $513.56/share, with turnover of $2.016 billion.

On the news front, semiconductor research firm SemiAnalysis disclosed that AMD reached performance-based warrant agreements with Meta and OpenAI from late last year through early this year. The warrants will vest in tranches based on the two companies procuring and deploying up to 6GW of AMD Instinct GPUs, contingent on AMD shares surpassing stepped price targets up to $600.

According to SemiAnalysis estimates, as AMD shares rose from approximately $200 at the beginning of the year to the current $500-600 range, Meta and OpenAI's GPU capital costs have declined from roughly $2.15/hour and $2.50/hour to approximately $1.60/hour and $1.75/hour, respectively. Should AMD shares reach $600-700, GPU capital costs would approach zero for both companies. The analysis assumes linear vesting and full 6GW capacity deployment; specific warrant terms remain undisclosed.

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