AMD shares surge up to 15% on $60B five-year Meta AI chip deal, premarket on February 24

AMD and Meta unveiled a five-year AI chip partnership valued at up to $60 billion to deploy as much as 6 gigawatts of AMD Instinct GPUs. AMD shares were up as much as 15% in premarket trading; as of 8:16 AM EST on February 24, the stock traded at $214.35 after a $196.60 close on February 23.