Meta agrees $60bn deal with chipmaker AMD despite AI bubble fears

Facebook owner’s investment described by semiconductor company as ‘big bet’ on artificial intelligenceBusiness live – latest updatesThe owner of Facebook has agreed to buy $60bn (£44.5bn) of artificial intelligence chips from the US semiconductor company Advanced Micro Devices despite fears over the vast sums being spent on the AI industry.Meta, which also owns Instagram and WhatsApp, has clinched the five-year deal in which it will also buy 10% of the chip company. Continue reading...