AMD · Advanced Micro Devices, Inc.

Advanced Micro Devices significantly enhanced its liquidity profile by entering a new $5.0 billion five-year unsecured revolving credit facility on May 14, 2026, with JPMorgan Chase Bank as administrative agent, replacing the prior agreement with Wells Fargo. This facility offers flexible borrowing at competitive rates tied to the company's credit ratings, with no financial maintenance covenants, supporting general corporate purposes including potential letters of credit up to $250 million. Concurrently, the company expanded its commercial paper program capacity from $3.0 billion to $5.5 billion, providing short-term unsecured financing up to 397 days for ongoing needs. These moves signal strong access to capital markets amid growth demands. At the May 13 annual meeting, stockholders approved increasing authorized shares under the 2023 Equity Incentive Plan by 65 million to 153 million total, enabling expanded employee and director incentives post-administrative updates. All eight directors were elected with strong support, Ernst & Young was ratified as auditor, and say-on-pay passed, while a special meeting threshold proposal failed, maintaining current governance standards. No borrowings were outstanding under the new facility as of closing.