What's Going On With AMD Stock Wednesday

Advanced Micro Devices, Inc AMD shares are trading higher Wednesday. The positive movement could also be in sympathy with peer chipmakers, as a lot is brewing in the space.
Peer chipmaker NVIDIA Corp NVDA is also trading higher on reports of additional orders for AI chips that require Taiwan Semiconductor Manufacturing Company Ltd's TSM CoWoS (chip on wafer on substrate) packaging.
Also, reports suggest that Nvidia might launch its GeForce RTX 4060-series graphics cards in May. Nvidia wants its partners to start selling GeForce RTX 4060 Ti 8GB model on May 24, 2023.
Intel Corp INTC is trading higher Wednesday on reports of a green signal from the EU over the Activision Blizzard, Inc ATVI deal by May 15 after it inked deals with Nvidia, Ukraine's Boosteroid and Japan's Ubitus.
AMD also shared plans to showcase its growth strategy and expand its product portfolio and capabilities for data center and AI at a June 13 livestream event.
AMD Chair and CEO Dr. Lisa Su will join other AMD executives and key customers to detail new products and momentum across data center, AI, adaptive, and high-performance computing solutions in the June 13 event.
Price Action: AMD shares traded higher by 3.01% at $97.95 on the last check Wednesday.