Stocks rise after getting a reminder of AI's potential upsides [Los Angeles Times (CA)]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: Los Angeles Times
The S&P 500 climbed 0.8% and recovered nearly three-quarters of its sharp drop from the day before. The Dow Jones Industrial Average added 370 points, or 0.8%, and the Nasdaq composite gained 1%. Advanced Micro Devices helped lead the market and rallied 8.8% after announcing a multiyear deal where it will supply chips to Meta Platforms to help power its AI ambitions. Under the agreement, Meta also got the right to buy up to 160 million shares of AMD stock for 1 cent each, depending in part on how many chips Meta ultimately buys. It's a reminder of the excitement that built in recent years about the billions of dollars pouring into AI, which could remake the world and create a more productive economy. It also helped produce a sharp turnaround from the prior day, when worries about the potential downsides of AI shook Wall Street, particularly companies and industries that investors fear could be made obsolete. Industries as far flung as software, trucking logistics and financial
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AMD
News
- Meta inks deal with AMD for chips—and equity [Yahoo! Finance]Yahoo! Finance
- AMD Secures $60 Billion AI Chip Deal With Meta [Yahoo! Finance]Yahoo! Finance
- Advanced Micro Devices (AMD) had its "buy" rating reaffirmed by Jefferies Financial Group Inc..MarketBeat
- Stock Market Today, Feb. 24: Advanced Micro Devices Surges After Meta Strikes Multiyear AI Chip Supply Deal [Yahoo! Finance]Yahoo! Finance
- The AI love-hate trade roars as Meta-AMD $100 billion deal cheers traders' spirits after doom spiral [Fortune]Fortune
AMD
Earnings
- 2/3/26 - Beat
AMD
Sec Filings
- 2/24/26 - Form 8-K
- 2/20/26 - Form 4
- 2/18/26 - Form 4
- AMD's page on the SEC website