TECH - AMD Shares Rise Pre-Market After Semiconductor Giant Unveils New AI Chips To Challenge Jensen Huang's $2.7 Trillion Nvidia Empire | Benzinga
Advanced Micro Devices (NASDAQ:AMD) saw a 1.26% increase in pre-market trading on Monday after revealing its latest AI processors.
What Happened: At the Computex technology trade show in Taipei, AMD CEO Lisa Su introduced the MI325X accelerator, which is expected to be available in the fourth quarter of 2024, Reuters reported. The company aims to develop AI chips over the next two years to compete with Jensen Huang‘s $2.7 trillion industry leader NVIDIA (NASDAQ:NVDA).
At the time of writing, AMD’s stock was trading at $169.00, up from $166.90 on Friday. The demand for advanced AI chips has surged due to the growing need for generative AI programs in data centers.
Santa Clara-based AMD is challenging Nvidia, which holds about 80% of the AI semiconductor market. AMD ...