AMD completes $3.375B ZT Systems acquisition; sees accretive by end of 2025

ADVANCED MICRO DEVICES INC

Paid $3.375B cash + ~8.3M AMD shares; contingent consideration up to $300M + 740k shares if conditions met.
Transaction expected accretive on non-GAAP basis by end of 2025; targets $500B data center AI accelerator market in 2028.
AMD plans to divest ZT's manufacturing business to strategic partners in 2025; design teams join Data Center Solutions unit.
ZT CEO Frank Zhang joins AMD as SVP ZT Manufacturing; President Doug Huang as SVP Data Center Platform Engineering.
ZT's credit facility ($642M) and receivables facility ($850M) remain; no balances drawn at closing.

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