The Globe and Mail reports in its Wednesday edition that Advanced Micro Devices said on Tuesday it has agreed to sell up to $60-billion (U.S.) worth of artificial-intelligence chips to Meta Platforms over five years. A Reuters dispatch to The Globe says the deal also allows the Facebook owner to purchase as much as 10 per cent of the chip firm. AMD shares rose more than 6 per cent in early trading, while market leader Nvidia, set to report results today, fell around 1 per cent. Surging demand for AI processors has deepened competition for Nvidia and niche players as the industry scrambles to secure scarce supply. "Meta is locking in supply, diversifying away from a single vendor, and doing whatever it takes to make sure its AI ambitions aren't bottlenecked by chips," said analyst Matt Britzman at Hargreaves Lansdown. "For AMD, this is a vote of confidence in its next-generation AI hardware -- but having to give up a 10% stake suggests it could be struggling to generate organic demand." The partnership also highlights the deepening ties among some of the AI industry's top players amid rising concerns around circular deals. AMD will supply six gigawatts worth of chips to Meta, enough to power 750,000 homes on average.