AMD stock spikes after company launches AI chip to rival Nvidia
Publishing timestamp: 2023-12-07 16:39:26
Summary
AMD shares rose nearly 10% after the company announced new artificial intelligence chips that will compete against Nvidia. Investors believe AMD can take a significant share of the AI chip market from Nvidia, despite lower revenue projections. AMD's CEO believes the total market for AI chips could reach $400 billion by 2027, and the company is well-positioned to capitalize on this growth.
Sentiment: POSITIVE
Tickers: MSFT, META, AMD, NVDA,
Keywords: technology, nvidia corp, apple inc, lisa su, meta platforms inc, advanced micro devices inc, mobile, microsoft corp, breaking news: technology, business news, business,
Source: https://www.cnbc.com/2023/12/07/amd-stock-spikes-after-company-launches-ai-chip-to-rival-nvidia.html