XLNX - Why did Advanced Micro Devices go up today?

Advanced Micro Devices (NASDAQ:AMD) shares jumped more than 8% to close at $146.50 after the Federal Reserve said it would purchase $30 billion less in securities per month and potentially raise interest rates three times next year in the face of rising inflation. Prior to the Fed's decision on Wednesday, Advanced Micro Devices (AMD) shares have declined roughly 10% since the start of the month on fears that rising rates would hurt tech stocks. Separately on Wednesday, investors heightened their levels of concern that Advanced Micro Devices (AMD) would close its deal with Xilinx (NASDAQ:XLNX) amid a report that the U.S. could place further sanctions on China's biggest chipmaker. Advanced Micro Devices (AMD) and Xilinx (XLNX) are still awaiting clearance from China on the proposed acquisition.

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Why did Advanced Micro Devices go up today?