AMD $AMD and Meta $META just announced a $100B and 6-gigawatt over 5-year, multi-generation partnership to deploy custom AMD Instinct GPUs and CPUs across Meta's AI infrastructure. It was great to catch up with AMD CEO @LisaSu on this. Here is what the deal includes:   •GPU: Custom GPU based on the MI450 chiplet architecture, configured specifically for Meta's Gen AI inference and workloads. This is NOT an ASIC but no one is deep-diving on the GPU customizations. There are rack-level changes, too, details not known yet. •CPU: 6th Gen EPYC "Venice" CPUs and a next-gen Zen 6-based EPYC "Verano" processor optimized for performance per watt per dollar •Rack: Deployed within Meta-built racks based on the jointly developed AMD Helios architecture through the Open Compute Project. The rack has customizations linked to the custom GPU. •Warrants: Performance-based warrant for up to 160M $AMD shares at $0.01/share, vesting tied to shipment milestones and stock price thresholds escalating to $600 •First Shipments: First gigawatt of committed shipments from AMD to Meta begins 2H 2026 and ramps through 2027. •Binding purchase commitment: For the initial 1GW, with the remaining 5GW contingent on milestones   Combined with the similar OpenAI deal from October 2025, AMD now has 12 gigawatts of committed GPU deployments from two of the most compute-intensive organizations on the planet. If you still question AMD's capabilities, you're fooling yourself. Yes, of course, AMD has to deliver. And yes, you heard that right, shipping 2H/2026.   I don't see the equity deal as a solid negative- equity only passes if purchase commitments are made and AMD stock significantly appreciates with the top end at $600 per share, triple the current price giving the company nearly a $1T valuation.