What's Going On With AMD Stock Today?

Advanced Micro Devices, Inc. AMD shares are trading higher Tuesday. The company announced it will host its “Advancing AI 2024” event on in-person and via livestream Oct. 10, 2024.  

The Details: AMD said the "Advancing AI 2024" event will showcase the next-generation AMD Instinct accelerators and 5^th Gen AMD EPYC server processors. The event will also showcase AMD's Networking and AI PC updates and highlight the company's growing AI solutions ecosystem.

The live stream can be accessed on the company's website and the AMD YouTube channel and will start at 12 p.m. ET on Oct. 10. 

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What Else: AMD's CEO, Dr. Lisa Su, presented at the Goldman Sachs Communacopia and Technology Conference on Monday and highlighted AMD's accelerated AI roadmap with plans to release new AI chips annually. 

The MI300x, launched last year, features 192GB of memory and 153 billion transistors, making it suitable for training large language models like OpenAI‘s ChatGPT.

"We believe we can have a very significant piece of the training and inference of these large language models," Su stated. 

In the second quarter of 2024, MI300 quarterly revenues exceeded $1 billion for the first time and AMD's Data Center revenues grew 114.5% year-over-year to $2.83 billion. 

Is AMD A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Advanced Micro Devices‘ page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Advanced Micro Devices does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 17.65%, you'll need to buy a share of Orchid Island Cap by Sep. 30, 2024. Once done, you can expect to receive a nominal payout of $0.12 on Oct. 30, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Advanced Micro Devices will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

AMD Price Action: According to Benzinga Pro, Advanced Micro Devices shares are down 2.57% at $146.65 at the time of publication Tuesday.

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