Latham & Watkins Advises AMD in Partnership With Meta to Deploy 6 Gigawatts of GPUs

AMD (NASDAQ: AMD) and Meta announced a 6-gigawatt agreement to power Meta’s next generation of AI infrastructure across multiple generations of AMD Instinct GPUs. This agreement expands on the companies’ existing strategic partnership and aligns roadmaps across silicon, systems, and software to deliver AI platforms purpose-built for Meta’s workloads. The first deployment will use a custom AMD Instinct GPU based on the MI450 architecture to deliver AI platforms that are optimized for Meta’s workloads at gigawatt-scale. Shipments supporting the first gigawatt deployment are scheduled to begin in the second half of 2026. As part of the agreement, to further align strategic interests, AMD has issued Meta a performance-based warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones associated with Instinct GPU shipments are achieved. The first tranche vests with the initial 1-gigawatt of shipments, with additional tranches vesting as Meta’s purchases scale to 6 gigawatts. Vesting is further tied to AMD achieving certain stock price thresholds and exercise is tied to Meta achieving key technical and commercial milestones.

Latham & Watkins LLP advised AMD in the transaction with a corporate team led by Bay Area partners Tad Freese and Richard Kim, with associates Annie Kim and Edwin Gonzalez. Advice was also provided on finance matters by Chicago partner Matthew Hays; on technology transactions matters with associate Andrew Abokhair; on tax matters by Bay Area partner Grace Lee, with associate Derek Gumm; on antitrust/HSR matters by Bay Area partner Kelly Fayne, Washington, D.C. partner Mandy Reeves, Brussels partner Héctor Armengod, Hamburg partner Jana Dammann, and Brussels counsel Philipp Studt; and on compliance matters by Washington, D.C./London partner Nathan Seltzer and Washington, D.C. partner Les Carnegie, and Washington, D.C. counsel Aaron Amundson, with associate Matthew Gregory.