Advanced Micro Devices signs multi-year deal with Meta to lend GPUs to AI data centers
Advanced Micro Devices has inked a multi-year deal with Meta to lend up to 6 gigawatts of its graphics processing units to artificial intelligence data centers.
Meta’s investment in AMD includes a performance-based warrant that could amount to up to 160 million of AMD shares, according to the companies’ joint statement dated Tuesday. The allocation is structured to vest as specific milestones associated with Instinct GPU shipments are hit.
The firms’ agreement also includes the use of AI-optimized central processing units, or CPUs. Early shipments of MI450 GPUs in AMD’s Helios rack-scale servers will begin later this year.
The cost of the deal remains unclear as of writing time. However, Meta said in an earnings report last month that it planned to commit up to $135 billion in capital expenditures this year — a bid to stay competitive with megacap peers, in addition to OpenAI and Anthropic, in the global AI race.
— Liz Napolitano
Home Depot rises on earnings beat
Home Depot posted better-than-expected results for the fourth quarter, sending shares up nearly 4%. The company earned $2.72 per share on revenue of $38.2 billion. Analysts polled by LSEG expected a profit of $2.54 per share on revenue of $38.12 billion.
The home improvement retailer also kept its current fiscal year forecast.
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Trump’s tariffs take effect at lower-than-expected 10% rate
A container ship floats loaded with shipping containers at the Port of Los Angeles on February 20, 2026 in Los Angeles, California.
Mario Tama | Getty Images
President Donald Trump announced over the weekend that a new, blanket 15% global levy would be applied to imports to the U.S. with immediate effect. The president initially announced plans to impose a 10% duty on global imports, before saying that the rate would rise “to the fully allowed, and legally tested, 15% level.”
However, when the levy came into effect on Tuesday, it was at a rate of 10%. A customs notice from U.S. Customs and Border Protection, published Monday evening, said Temporary Section 122 Duties would see “an additional 10% ad valorem duty on imported articles of every country for a period of 150 days, unless specifically exempt.”
— Chloe Taylor
European stocks fall as tariffs take effect
Flags of the European Union fly outside the EU headquarters in Brussels, Belgium, on December 19, 2025. (Photo by Jonathan Raa/NurPhoto via Getty Images)
Nurphoto | Nurphoto | Getty Images
European stocks moved lower on Tuesday as investors assess the new global trading landscape after U.S. President Donald Trump’s latest tariff move.
By 9:06 a.m. in London (4:06 a.m. ET), the pan-European Stoxx 600 was 0.1% lower, with regional bourses in mixed territory.
Read more on moves in European markets here.
— Chloe Taylor
Keysight Technologies, Diamondback Energy move on after-hours earnings results
Below are some of the biggest after-hours movers on Monday evening:
- Keysight Technologies — The manufacturer of electronics test and measurement equipment exceeded first-quarter estimates on top and bottom lines, leading shares to jump more than 15%. Keysight earned $2.17 per share, on an adjusted basis, while analysts polled by LSEG expected $2.00 per share. Revenue came out at $1.60 billion, also higher than the $1.54 billion expected.
- Diamondback Energy — Shares lost 3% in after-hours trading after the company’s fourth-quarter earnings disappointed Wall Street. Diamondback reported adjusted earnings of $1.74 cents per share on $3.38 billion in revenue, while analysts polled by LSEG expected $2.08 in earnings per share and $3.31 billion in revenue.
- Vir Biotechnology — Shares surged more than 65%. The company shared positive updated Phase 1 results for its VIR-5500 treatment for patients with metastatic prostate cancer.
— Pia Singh
Sarat Sethi owns Salesforce, Workday ahead of earnings
Sarat Sethi, managing partner at Douglas C. Lane & Associates, said he owns Salesforce and Workday ahead of their earnings results this week that will be closely watched by investors.
Both Salesforce and Workday have been punished this year, tumbling more than 33% and 40%, respectively, as investors fearful of AI disruption took a sharp pivot out of the software sector.
Salesforce, YTD
Sethi is hopeful that their earnings could reverse their fortunes if both companies can prove they have staying power. He noted that Salesforce has a great install base. It’s also valued at roughly 13 times forward earnings, according to FactSet data, implying the stock is now a bargain.
“The question is going to be, are they getting displaced? Are they losing customers?” Sethi told CNBC’s “Power Lunch.” “If none of that’s true, and they’re still growing, and they have the potential to grow and use AI, we think now you’ve gone from kind of a growth-at-a-reasonable-price to a value stock.”
“I’m just hoping it doesn’t become a value trap,” he added.
Salesforce is set to report earnings Wednesday. Workday is scheduled to release results Tuesday.
— Sarah Min
