What’s Going On With AMD Stock Wednesday

• Advanced Micro Devices, Inc (NASDAQ: AMD) shares are trading higher Wednesday. The positive movement could also be in sympathy with peer chipmakers, as a lot is brewing in the space.

• Peer chipmaker NVIDIA Corp (NASDAQ: NVDA) is also trading higher on reports of additional orders for AI chips that require Taiwan Semiconductor Manufacturing Company Ltd’s (NYSE: TSM) CoWoS (chip on wafer on substrate) packaging. A

• lso, reports suggest that Nvidia might launch its GeForce RTX 4060-series graphics cards in May. Nvidia wants its partners to start selling GeForce RTX 4060 Ti 8GB model on May 24, 2023.

• Intel Corp (NASDAQ: INTC) is trading higher Wednesday on reports of a green signal from the EU over the Activision Blizzard, Inc  (NASDAQ: ATVI) deal by May 15 after it inked deals with Nvidia, Ukraine’s Boosteroid and Japan’s Ubitus.

• AMD also shared plans to showcase its growth strategy and expand its 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 in the June 13 event.

• Price Action: AMD shares traded higher by 3.01% at $97.95 on the last check Wednesday.

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