AMD booked a $1.1 billion charge tied to warrants that let OpenAI and Meta each buy shares for a penny apiece as chips ship under deals for data centers drawing up to 6 GW. The charge came to $0.66 per share and rose with AMD's share price and changes in the estimated odds of meeting the warrant conditions, while the final batch requires the stock to reach $600. The company said the charges will not affect non-GAAP results or free cash flow, even as data center sales hit about $8.5 billion and fourth-quarter revenue is forecast at about $17 billion. Inventory rose about $3 billion to a record $11.5 billion, and free cash flow shrank to about $550 million, below the nearly $2 billion analysts expected. Debt more than doubled to about $7 billion after an August bond sale.
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