AMD Stock Is Rising Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
AMD shares are trading higher following a report suggesting Amazon's cloud unit, AWS, is considering using AMD's new AI chips. This comes after AMD's Data Center and AI Technology Premiere event, where the company showcased its growth strategy and product portfolio. Multiple analysts have lifted price targets on AMD stock.
June 14, 2023 | 1:05 pm
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POSITIVE IMPACT
AMD's stock is rising after reports of AWS considering using their new AI chips, and multiple analysts have lifted price targets on the stock.
The news of AWS potentially using AMD's AI chips indicates a strong partnership and increased demand for AMD's products. This, combined with analysts raising price targets, is likely to have a positive short-term impact on AMD's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Amazon's AWS is considering using AMD's new AI chips, which could enhance AWS's capabilities and offerings.
If AWS adopts AMD's AI chips, it could lead to improved performance and capabilities for Amazon's cloud services. This could attract more customers and potentially have a positive short-term impact on Amazon's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80