AMD Stock Holds Up As AI Rack Sales Draw Bulls
AMD gained 1.4% to $528.87 early Wednesday, shaking off declines in chip ETFs as investors saw new signs the company is making a bigger push into AI data-center gear. Nvidia dropped 2.3%. Intel was up 5.0%. Both iShares Semiconductor ETF and VanEck Semiconductor ETF slipped. AMD’s rally isn’t just about the last quarter’s earnings now. Traders want to see its Instinct GPUs used in full AI systems that are sold at data-center scale. The chips are made for training and running artificial intelligence models.