NEW YORK, March 3, 2026, 10:56 ET — Regular session
Advanced Micro Devices shares dropped 4.8% to $189.16 as of 10:50 a.m. ET on Tuesday, with chipmakers seeing outsized declines. Nvidia lost 2.8% and Intel tumbled 6.3%.
Why does the slump count? AMD’s now a go-to proxy for risk appetite, thanks to its tight link to data-center hardware powering artificial intelligence. Chip stocks are typically hit first when investors start pulling back.
AMD is also pushing its partners to help ramp up manufacturing for its Instinct accelerator platforms—the same hardware it’s targeting for big AI buildouts.
Wall Street’s key indexes slid over 2%, with investors grappling with an escalating Middle East conflict and its impact on energy prices, inflation, and where rates might be headed next. “The main concern is that oil prices go to over $100 a barrel and stays there,” said Robert Pavlik, senior portfolio manager at Dakota Wealth. Reuters
Flex on Monday announced it’s begun U.S. manufacturing of AMD’s Instinct MI355X 8x GPU platform out of its Austin, Texas site, and expects to ramp up volumes next quarter. Rob Campbell, an executive at Flex, called the U.S. partnership with AMD “an important milestone in advancing domestic AI infrastructure.” Keivan Keshvari at AMD described the move as “an important step” for the chipmaker as it looks to “meet AI demand and deliver at scale.” investors.flex.com
Graphics processing units—GPUs—are the chips at the heart of training and running AI models. For cloud and data-center buyers, timely delivery is crucial. Still, on Tuesday, the stock moved in line with the broader market.
AMD popped up on investors’ radar as well. The chipmaker confirmed CTO Mark Papermaster would take the stage at Morgan Stanley’s Technology, Media & Telecom Conference on Tuesday. A webcast can be found on AMD’s investor relations page.
Traders want to hear specifics on Instinct supply, what customer demand looks like, and just how fast partner capacity translates to actual shipments. Flex, for its part, has only signaled a ramp for next quarter—not right away.
The hazard for bulls? Pretty simple: big-picture disruptions can easily override any single-company news. Should the conflict push energy costs higher, that could keep investors on the sidelines when it comes to growth names. And AMD, even with fresh plays in AI accelerators, is staring down fierce rivals.
Friday brings the next big macro hurdle as the U.S. Labor Department drops the February jobs report at 8:30 a.m. ET—a number with the power to whiplash rate-cut bets and tech stock valuations.
For now, AMD’s stock action seems tethered to oil, yields, and whatever traders can glean from Papermaster’s comments. They’re waiting for substance—something that might break through the market’s risk-off tone.
