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AMD Surges: AI Chips & Oracle Deals Fuel Growth
28 Nov
Summary
- AMD's stock has significantly outperformed the semiconductor ETF over the past year.
- The company secured multi-billion dollar deals with OpenAI and Oracle.
- AMD's Q3 adjusted EPS and revenue surpassed Wall Street's expectations.
Advanced Micro Devices (AMD), a Santa Clara-based semiconductor giant, is experiencing significant growth, outperforming the iShares Semiconductor ETF over the past year. The company's strong brand and unique technology have provided a competitive edge, with its stock showing robust gains.
Recent successes include multi-billion dollar deals with major players like OpenAI and Oracle, who will utilize AMD's GPUs for AI cloud services. This surge in demand for data center AI chips, alongside thriving core businesses like Epyc CPUs and Ryzen processors, drives AMD's bullish trend.
The company recently reported Q3 results that exceeded Wall Street's expectations for both adjusted earnings per share and revenue, signaling continued upward momentum for AMD in the competitive tech landscape.
