AMD stock spikes after company launches AI chip to rival Nvidia

On Thursday, AMD shares experienced a 9.9% surge, closing at $128.37, marking the stock’s most robust performance since May and achieving the highest closing value since June.

This upward momentum followed the company’s launch of new artificial intelligence chips designed to compete with Nvidia in powering AI applications.

During a discussion on Wednesday, AMD CEO Lisa Su highlighted the Instinct MI300X, a substantial graphics processor tailored for AI-centric servers.

She also disclosed commitments from Microsoft and Meta to utilize this chip in their operations.

While Nvidia has been the dominant player in the AI chip market, the surge in AMD shares on Thursday suggests investor confidence in the company’s ability to capture a share of this market from Nvidia, CNBC reported.

READ MORE: https://www.cnbc.com/2023/12/07/amd-stock-spikes-after-company-launches-ai-chip-to-rival-nvidia.html

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley