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AMD Jumps 6.7% While Amazon Opens a $60 Billion AI-Chip Door
Yahoo Finance • • business
Key Points:
- Qualcomm announced a potential long-term collaboration with Amazon, which could involve Amazon purchasing up to $60 billion worth of AI data-center products.
- Advanced Micro Devices (AMD) shares rose about 6.7% amid strong investor confidence in AI computing infrastructure demand.
- AMD's Q2 revenue surged 50% to $11.54 billion, with data-center sales more than doubling to $6.7 billion, now representing 58% of total revenue.
- Qualcomm aims for $15 billion in annual data-center revenue by 2029, highlighting the significant growth potential in AI infrastructure markets.
- Despite the growth prospects, AMD's stock price trades at an 82.57% premium over its GF Value, indicating high investor expectations for continued AI-driven expansion.
