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Monday, July 15, 2024

AMD stock ends week higher as post-earnings loss erased by Microsoft AI hopes

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Advanced Micro Devices Inc. shares rallied Friday to eliminate steep losses from Wall Street’s skepticism following the chip maker’s earnings report.

AMD shares dropped more than 9% Wednesday after the chip maker’s optimism for the second half of the year did not rub off on analysts, but a rebound began Thursday following a report that AMD AMD was partnering with Microsoft Corp. MSFT to develop an in-house chip to handle AI workloads. Microsoft has relied mostly on AMD’s larger rival Nvidia Corp. NVDA for its data-center…

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