Compute · the Ledger · Acquisition
AMD agrees to acquire hyperscale server builder ZT Systems for $4.9B in cash and stock; deal closes March 31, 2025
Completed · announced 19 Aug 2024 · the week to 23 Aug 2024
- Size
- $4.9B
$4.9B including a contingent payment of up to $400M.
The parties
- AMDcompany pageAcquirer
- ZT SystemsBeing acquired
The source
AMD press release, 2024-08-19Company press release
At closing AMD issued 8,335,849 shares and paid $3.375B in cash, with up to 740,961 more shares and $300M cash contingent (AMD 8-K, 2025-03-31). AMD sold ZT's manufacturing business to Sanmina, closed 2025-10-27, for $2.4B cash and 1,151,052 Sanmina shares, plus up to $450M contingent (AMD 8-K, 2025-10-27).
The same parties, other deals
- AMD leases 377 MW from Core Scientific for 15 years and backs 152 MW of neocloud leases, with rights to ~1.9 GW moreundisclosed · 28 Jul 2026
- Anthropic to deploy up to 2 GW of AMD MI450-series GPUs in Helios racks; AMD commits up to $5B equity in Anthropicundisclosed · 22 Jul 2026
- Meta commits to buy the first 1 GW of AMD Instinct GPUs (up to 6 GW); AMD issues Meta a warrant for up to 160M sharesundisclosed · 24 Feb 2026
- OpenAI agrees to buy AMD Instinct GPUs (binding first 1 GW of MI450, up to 6 GW); AMD issues OpenAI a warrant for up to 160M sharesundisclosed · 6 Oct 2025