AMD shares jump 8% to highest close since 2021 on AI chip demand
Publishing timestamp: 2024-01-16 16:07:08
Summary
AMD shares are trading at their highest level since November 2021, with analysts raising their price targets due to strong demand for the company's AI chips. AMD is expected to post $4 billion in AI chip sales this year, and there is optimism that companies like Microsoft, Google, and OpenAI will increase their demand for AMD's chips. Nvidia, the primary competitor in the AI chip market, also saw its stock rise on Tuesday.
Sentiment: POSITIVE
Tickers: AMD, GOOGL, MSFT, NVDA,
Keywords: apple inc, breaking news: technology, mobile, business, microsoft corp, advanced micro devices inc, business news, technology, nvidia corp, alphabet inc,