AMD shares rallied more than 10% at times Thursday following a report that indicated the chip maker was working with Microsoft Corp. on AI chips.
Advanced Micro Devices Inc. shares suddenly soared Thursday, following a report that indicated the chip maker was working with Microsoft Corp. as it expands into processors for artificial intelligence.
Bloomberg News reported Thursday that AMD AMD and Microsoft MSFT were working together on another option in the market for AI chips beyond what Nvidia Corp. NVDA , the market leader, offers. Microsoft is providing financial support as AMD works on this initiative, according to the report, which cited unnamed sources.
Companies involved in making the gear powerful enough to support AI work — such as Nvidia, AMD and Super Micro Computer Inc. SMCI have been swept up in a wave of hype for artificial-intelligence technology going mainstream. The popularity of Microsoft-backed OpenAI’s ChatGPT sparked much of the interest in generative AI, which uses large-language models that require a lot of computing power.
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