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AMD stock share price jumps 10% on Meta partnership announcement

AMD continues to catch up to industry leader Intel through a new partnership with Meta.

Ozzie Mejia

November 8, 2021 12:50 PM

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AMD has had itself a very good Monday after the company announced that Meta will be among its most prominent chip customers. Shortly after AMD announced that the company formerly known as Facebook would be added to its customer list, the former's stock shares rose by more than 11 percent.

"AMD announced Meta is the latest major hyperscale cloud company that has adopted AMD EPYC CPUs to power its data centers," reads the official AMD press release. "AMD and Meta worked together to define an open, cloud-scale, single-socket server designed for performance and power efficiency, based on the 3rd Gen EPYC processor. Further details will be discussed at the Open Compute Global Summit later this week."

Monday's Accelerated Data Center Premiere event offered a first look at the 3rd Gen AMD EPYC processors with AMD 3D V-Cache. The tech will also power Microsoft Azure HPC virtual machines, which will be on display through a special private preview event. The 3rd Gen EPYC CPUs with AMD V-Cache will launch in Q1 2022 with Cisco, Dell, Lenovo, HPE, and Supermicro among the companies who will look to adopt the technology.

At the time of this post, AMD's stock shares are up to roughly $151 USD, a jump of nearly 15 percent. The Meta partnership represents a major coup for AMD, which has gradually gained on industry leader Intel over the past couple of years.

More details on AMD's new partnership with Meta will be unveiled later this week. Shacknews will keep an eye on this story and return with any updates.

Ozzie Mejia

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?