AMD Stock Slumps as AI Chip Trade Meets a Jobs-Report Shock
Advanced Micro Devices shares fell sharply on Friday, caught in a broad chip-stock retreat after a stronger-than-expected U.S. jobs report raised doubts about the staying power of this year’s AI-led rally. AMD recently traded at $474.34, down $48.86 from the previous close, after opening at $500 and touching an intraday low of $470.79. Volume topped 25 million shares.