[AMD's Warrants to OpenAI and Meta Confirmed as Price Discounts, with a 105% Discount for OpenAI] According to DeepTech TechFlow on July 28, semiconductor research firm SemiAnalysis pointed out that AMD's warrant transactions with OpenAI and Meta are essentially price discounts on computing resources rather than purely equity incentives. Based on their calculations, the discount for OpenAI in this transaction reaches as high as 105%, meaning AMD is providing computing power to OpenAI at below-cost prices and compensating the difference through warrants. This structure indicates that AMD is adopting aggressive pricing strategies to compete with NVIDIA in order to capture market share in AI training.