New York, February 9, 2026, 10:03 EST — Regular session
- AMD jumped roughly 2% at the open, outpacing the stagnant Nasdaq-100 tracker.
- Chip stocks found their footing following last week’s swings, with investors eyeing upcoming U.S. data that might influence rate expectations.
- AMD’s push into AI chips is front and center for traders, who are watching how its margins and demand numbers line up against Nvidia.
Advanced Micro Devices shares climbed roughly 2.2% to $212.96 in Monday morning trading. The stock had settled at $208.44 at Friday’s close.
Chip shares fared better than much of Big Tech, even as investors remained uneasy about who stands to gain — or lose — as the AI boom shakes out earnings.
Stocks slipped at the open after last week’s volatility, as traders looked ahead to a packed slate of U.S. economic releases that may recalibrate views on Fed policy. 1
Rates are a big deal for AMD. The stock’s latest run-up is all about what’s ahead, and when yields jump, that future cash starts looking skimpier. One hot jobs or inflation report? That’ll sting more than any product chatter ever could.
Nvidia rose roughly 3% Monday, with Broadcom tacking on around 2%. Intel, on the other hand, dropped close to 3%. Semiconductor ETFs posted small gains, despite the Nasdaq-100 tracker dipping a bit.
AMD reported a record $10.3 billion in fourth-quarter revenue, but it’s projecting first-quarter sales of around $9.8 billion, give or take $300 million. That’s about a 5% drop from the previous quarter. The chipmaker put its non-GAAP gross margin at roughly 55%, representing profit after direct costs but before operating expenses. “We are entering 2026 with strong momentum across our business,” CEO Lisa Su said. CFO Jean Hu pointed to the results as evidence that AMD can “deliver profitable growth at scale.” 2
But investors haven’t wasted time sizing up AMD next to Nvidia, which still rules the AI accelerator space. “The expectations for large blowout quarters for AI-related hardware companies have skewed what the market is looking for,” said Bob O’Donnell, president of TECHnalysis Research. On the call, AMD’s CEO told analysts that as the company ramps up its new AI servers for customers like OpenAI, it doesn’t expect to run into “supply-limited” issues. 3
There’s a risk here. Should AI hardware demand slow, or buyers hit pause following an initial surge, AMD’s fresh data-center GPU segment might face a bumpier ride than optimists expect. China export rules and heavy dependence on just a few big clients still hang over the story.
Macro factors are about to take center stage. Investors are eyeing the postponed January U.S. jobs numbers, set to land Wednesday, Feb. 11, with January CPI following Friday, Feb. 13. Either release could jolt yields, shake tech valuations, and hit chip stocks all at once. 4
