- Advanced Micro Devices, Inc (NASDAQ:AMD) shares are trading lower Tuesday as it shared plans to showcase its growth strategy and expand product portfolio and capabilities for data center and AI at a June 13 livestream event.
- AMD Chair and CEO Dr. Lisa Su will join other AMD executives and key customers to detail new products and momentum across data center, AI, adaptive, and high-performance computing solutions.
- Recent reports claimed Microsoft Corp (NASDAQ: MSFT) denied a partnership with the chipmaker for its Athena artificial intelligence chip.
- Also, separate reports suggested that the U.S. sanctions compelled the Chinese firms, including Alibaba Group Holding Limited (NYSE: BABA) and peers, to execute their AI ambitions without the sophisticated American chips from AMD and Nvidia Corp (NASDAQ: NVDA).
- Nvidia shares gained close to 100% YTD, basking in the glory of the commercialization of ChatGPT. AMD shares have gained 48% YTD.
- Nvidia analysts projected sustained outsized data center growth driven by increasing industry adoption of AI workloads enhanced by generative AI workloads (i.e., ChatGPT, Bard).
- Price Action: AMD shares traded higher by 0.21% at $95.24 on the last check Tuesday.
US Authorities Probe Sanctions Enforcement in Russian Oil Trade
The U.S. Justice Department is intensifying its efforts to clamp down on violations of sanctions imposed on Russia's energy exports, with a particular focus on Murtaza Lakhani, the founder and CEO of Mercantile & Maritime Group, an oil trading and shipping company headquartered in Bahrain and Singapore.
