What’s Going On With AMD Stock Thursday?

Advanced Micro Devices, Inc. (NASDAQ: AMD), presented as the closest rival to the king of artificial intelligence Nvidia Corp. (NASDAQ: NVDA) which dominates the AI ​​accelerator market, has intensified competition with its recent launch of artificial accelerators. launch of the MI300X chip and share special attention to the Indian market.

After gaining market share in PCs and servers, AMD entered the AI ​​accelerator market with its MI300, targeting a market that could reach more than $400 billion in four years.

However, Intel Corp. (NASDAQ: INTC) the last movement made the title a little nervous.

Meanwhile, Intel stock climbed Thursday as it shared plans to intensify the rivalry with Nvidia and AMD by launching its Joy 3 AI Accelerator.

Intel is interested in the new wave of AI applications, hoping it will make up 80% of PCs sold within four years.

Read also: Citi analyst predicts Intel, Micron will be biggest beneficiaries of US chip law, despite regulatory hurdles

AMD received at least three bullish notes (Rosenblatt, Stifel, Raymond James) in December 2023, of which at least one price target increase by Raymond James.

Winner Microsoft Corp. (NASDAQ: MSFT) And Meta Platforms Inc. (NASDAQ: META), reinforced by the latter’s plan to use the MI300X for inference purposes, won the conviction of stock market analysts.

AMD stock has gained more than 6% over the past five days, compared to Intel’s gain of about 9%.

Price action: AMD shares were down 0.91% at $136.93 at last check Thursday.

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