Is AMD’s Oracle AI Chip Deal Justifying the Recent Surge in Its Stock Price?
If you are weighing what to do with your Advanced Micro Devices shares, you are in good company. AMD’s stock has been on a tear, up 6.2% in the past week, 36.5% over the last month, and an eye-catching 79.4% year-to-date. That is after climbing more than 273% in three years. Investors and tech enthusiasts alike are flocking to AMD, and recent headlines explain part of this excitement.
For example, AMD’s graphics chips were just picked by Oracle for massive cloud deployments, a clear sign AMD is gaining traction as cloud companies look for alternatives to rival Nvidia. On top of that, AMD is teasing new GPU technology with Sony for its next gaming console, pointing toward potential long-term growth in the gaming space. Meanwhile, market…
