Advanced Micro Devices, Inc (NASDAQ:AMD) stock is trading higher Thursday as enterprises including Big Techs like Amazon.Com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google likely continue their high octane bets in artificial intelligence with additional tailwinds from Chinese Big Tech companies including Baidu, Inc (NASDAQ:BIDU), Alibaba Group Holding Limited (NYSE:BABA).
Baidu’s ChatGPT-counterpart Ernie Bot accomplished the milestone with over 100 million users, as per Wang Haifeng, the chief technology officer, at a deep learning summit in Beijing.
After Nvidia Corp (NASDAQ:NVDA), analysts see AMD as the next leading player in the accelerator market courtesy of its launch of Nvidia AI rival MI300X GPU and MI300A APU.
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A July survey reported that 95% of utility and energy companies were considering generative AI technologies.
Also, key AMD supplier Samsung Electronics Co (OTC: SSNLF) and the wider South Korean semiconductor sector have witnessed significant growth, showcasing a robust recovery in production and shipments. November saw a remarkable 42% increase in chip production from the previous year, the most significant rise since early 2017, Bloomberg reports.
Additionally, shipments soared by 80%, marking the most substantial growth since late 2002, according to the National Statistical Office.
The resurgence reflects a broader revival in global technological demand, with Samsung playing a crucial role.
AMD stock gained over 8% in the last five days and over 22% in the previous month. Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), representing the broader tech index, gained 1.3% in the last five days and 5.6% last month.
Price Action: AMD shares traded higher by 2.09% at $149.12 on the last check Thursday.
Image by cebbi from Pixabay
