Meta and OpenAI GPU Capital Costs Could Drop to Zero if AMD Stock Hits $600-$700

Performance-based warrants tied to 6GW AMD Instinct GPU deployments and stock thresholds could eliminate hourly capital costs for Meta and OpenAI if AMD shares reach the $600-$700 range.

Woofun AI reports that AMD secured agreements with Meta and OpenAI involving performance-based warrants linked to the procurement and deployment of up to 6GW of Instinct GPUs. These warrants are contingent on purchasing progress and AMD’s stock price surpassing specific thresholds, with the highest target set at $600.

AMD’s share price has climbed from approximately $200 at the start of 2026 to between $500 and $600. Under current assumptions, hourly capital costs per GPU for Meta and OpenAI would fall from roughly $2.15 and $2.50 to $1.60 and $1.75, respectively. If AMD’s stock reaches the $600 to $700 range, GPU-specific capital costs for these firms could effectively vanish. Further appreciation above $1,000, combined with software improvements and expanded orders, might theoretically reduce total cluster capital costs, including servers and networking, to near zero.