Advanced Micro Devices ( (AMD) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Advanced Micro Devices (AMD) stock saw a notable rise due to its strategic partnership with OpenAI. This collaboration, where AMD will supply up to 6 gigawatts of GPUs to bolster OpenAI’s AI infrastructure, has led analysts to increase AMD’s stock price targets. The deal is viewed as a significant endorsement of AMD’s AI capabilities and a potential revenue enhancer, with projections suggesting it could contribute tens of billions in revenue. Additionally, the partnership includes a warrant for OpenAI to acquire a stake in AMD, reflecting strong market confidence in AMD’s growth potential in the AI sector.
More about Advanced Micro Devices
YTD Price Performance: 68.87%
Average Trading Volume: 56,781,974
Technical Sentiment Signal: Buy
Current Market Cap: $330.6B
For further insights into AMD stock on TipRanks’ Stock Analysis page.
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