Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading higher Thursday trading higher as semiconductor and chip stocks and broader tech stocks rise.
What To Know:
Shares of AMD are up more than 5% on above-average trading volume Thursday. According to Benzinga Pro, more than 45 million shares have been traded in the first half of the session, compared to AMD’s 100-day average volume of 59.544 million shares.
AMD shares have gained 60% year-to-date as the market buzzes about new developments in artificial intelligence (AI) technologies.
AMD CEO Dr. Lisa Su spoke about AI at the 2023 Code Conference on Tuesday and said, “If you think about the technology trends that we’ve seen over the last 10, 20 years … AI is 10 times, 100 times more than that in terms of how it’s impacting everything that we do.”
“It’s that big. So the fact there’s a shortage of GPUs, I think it’s not surprising because people recognize how important the technology is.”
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AMD Price Action: According to Benzinga Pro, Advanced Micro Devices shares are up over 5% at $103.38 at the time of publication.
Image: Elchinator from Pixabay
