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What's Going On With AMD Stock On Thursday?

Anusuya Lahiri
·1-min read
What's Going On With AMD Stock On Thursday?
What's Going On With AMD Stock On Thursday?

Advanced Micro Devices, Inc (NASDAQ:AMD) shares were trading lower on Thursday in the premarket session in sympathy with Micron Technology Inc (NASDAQ:MU) after the company reported third-quarter financial results Wednesday.

The stock has recovered from the losses in the regular trading session on Thursday.

Meanwhile, AMD is set to introduce a new technology that promises to enhance the gaming experience by significantly reducing download times.

The Neural Texture Block Compression system, harnessing the power of artificial intelligence, will be showcased at the upcoming Eurographics Symposium on Rendering in London this July.

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Also Read: Nvidia Dominates GPU Market as Generative AI Adoption Grows, Analyst Says

This development comes at a busy time for AMD, with the expected release of the first Zen 5 CPUs in July 2024.

AMD emphasizes AI, rebranding its laptop gaming CPUs under the AMD AI moniker, similar to its competitor Nvidia Corp (NASDAQ:NVDA). Despite this focus, AMD acknowledges the strides needed to match Nvidia’s prowess in AI.

A statement from the AMD GPUOpen platform highlighted the universal disdain for lengthy game downloads, asserting that their novel AI-driven compression technique will substantially reduce data sizes. Nvidia previously explored a similar concept.

AMD stock gained 43% in the last 12 months. Investors can gain exposure to the stock via Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), and SPDR S&P 500 (NYSE:SPY).

Price Actions: AMD shares were trading higher by 0.48% at $158.30 at the last check on Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

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