What's Going On With Nvidia, AMD Stock Thursday?

Last week, Advanced Micro Devices, Inc AMD shared plans to invest $400 million in India to tap the growing product demand.

AMD looks to build its largest design center in India, likely to open before 2023 and add about 3,000 engineering roles by the end of 2028.

Also Read: AMD's Game Plan To Take On Nvidia In AI War

The company sees India as a crucial part of its portfolio and product development, with its India design team contributing to almost every product developed by AMD, executive vice president and chief technology officer Mark Papermaster said on CNBC's "Squawk Box Asia" on Thursday.

AMD is known for producing high-end graphics processing units (GPUs) needed for artificial intelligence, and it is excited about its next-generation AI chip, the MI300.

The company considers itself a viable alternative to Nvidia Corp's NVDA high-performance GPUs and is investing aggressively in AI, research, and development.

AMD focuses on leveraging the latest cutting-edge semiconductor nodes and sees India's engineering-dominated workforce as a significant asset for differentiation.

The company is also looking to diversify its supply chains amid U.S.-China tensions. AMD started with a small number of employees in Delhi in 2001 and now has over 6,500 full-time employees and over 3,500 service contractors in India.

India's incentives for semiconductor companies to develop, manufacture, and assemble products in India are considered beneficial by AMD.

AMD sees China as an important market and is considering developing a China-specific AI chip to comply with U.S. export curbs, following Nvidia and Intel Corp's INTC strategies.

Despite continued weakness in the PC market, AMD this week reported better-than-expected second-quarter results.

Ruben Roy of Stifel said AMD is the "only viable alternative" to Nvidia's high-performance H100 and A100 GPUs.

Price Action: AMD shares traded higher by 2.50% at $112.13 on the last check Thursday.

Image by cebbi from Pixabay

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.