Why is Advanced Micro Devices stock rallying today?
Summary
Advanced Micro Devices shares are experiencing an upward price movement in today's trading session. Financial markets are closely monitoring the semiconductor company as the stock climbs.
Our Take
The headline needs context. AMD's investment of up to $5 billion in Anthropic, tied to Anthropic deploying up to 2 gigawatts of Instinct MI450 GPUs in Helios racks, was first announced on July 22, with the first gigawatt due in the first half of 2027. It is back in the news as Anthropic moves toward its IPO, and it comes one day after Oppenheimer upgraded AMD with a $600 target. That is support for the AI story, not new revenue today.
The tape says the same. AMD opened at $504.53, ran to $539.25 early in the session (up 6%), and has given back almost all of it: it is near $510.70 at midday, up 0.4%, on a day when hot inflation data pushed the Nasdaq lower and Nvidia is down more than 6%. After Monday's 13% jump, fading a spike is normal. Support is today's low at $500.25, then Monday's low at $468.21. Resistance is $515.18 (Monday's high), then today's high at $539.25. AMD is still about 22% below its October record of $658.52.
Opinion of Tech & Money Press. Not financial advice.
Source: Read the full story at Stock Market News