What's Going On With Nvidia Rival AMD Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Advanced Micro Devices, Inc (AMD) stock is trading higher on Thursday after confirming that a recent cyberattack did not compromise business-critical data. Additionally, AMD supplier Taiwan Semiconductor Manufacturing Co (TSM) is considering a new advanced chip packaging method to address AI computing power demands. AMD also announced a partnership with Sun Singapore Systems for an AI-based smart parking solution.
June 20, 2024 | 1:15 pm
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Apple is mentioned as one of the companies that have nearly booked TSMC’s 3nm process to total capacity through 2026.
Apple's booking of TSMC’s 3nm process indicates strong demand for advanced chips, which could positively impact its future product offerings.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 20
POSITIVE IMPACT
AMD stock is trading higher after confirming that a recent cyberattack did not compromise business-critical data. The company also announced a new AI-based smart parking solution in partnership with Sun Singapore Systems.
The confirmation that the cyberattack did not compromise critical data alleviates investor concerns, while the new AI-based smart parking solution showcases AMD's innovation and potential for growth in AI applications.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia, a rival to AMD, is indirectly mentioned as AMD's stock rises and TSM's new chip packaging method could also benefit Nvidia.
While the news primarily focuses on AMD, Nvidia could also benefit from TSM's advancements in chip packaging, which are aimed at meeting AI computing power demands.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
TSM is considering a new advanced chip packaging method to address the AI frenzy for computing power, which is positive news for its clients like AMD.
TSM's new chip packaging method is likely to enhance its competitive edge and benefit its clients, including AMD, by meeting the growing demand for AI computing power.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70