Advanced Micro Devices Inc (NASDAQ:AMD) shares are trading higher Tuesday after the company announced that Oracle Corp (NYSE:ORCL) Cloud will deploy 50,000 of its AI chips.
What To Know: AMD and Oracle announced a major expansion of their long-standing collaboration to help customers significantly scale AI capabilities. Oracle Cloud Infrastructure will become a launch partner for the first publicly available AI supercluster powered by AMD Instinct MI450 Series GPUs.
Oracle Cloud Infrastructure is expected to deploy an initial 50,000 GPUs starting in the third quarter of 2026 and then expanding in 2027 and beyond.
Oracle Cloud Infrastructure’s planned new AI superclusters will be powered by AMD’s Helios rack architecture, which is designed to deliver maximum performance, scalability and efficiency for large-scale AI training and inference.
“Through our decade-long collaboration with AMD—from EPYC to AMD Instinct accelerators—we’re continuing to deliver the best price-performance, open, secure, and scalable cloud foundation in partnership with AMD to meet customer needs for this next era of AI,” said Mahesh Thiagarajan, executive vice president, Oracle Cloud Infrastructure.
AMD Analysis: AMD stock shows strong momentum with a Benzinga Edge ranking of 89.51. The recent price action indicates higher highs and higher lows, confirming an uptrend.
The RSI is calculated at 70.25, indicating that the stock is nearing overbought territory, which could signal a potential pullback. MACD lines are bullish, with the MACD at 2.15 and the signal line at 1.85, showing positive momentum but also hinting at potential consolidation.
AMD shares are trading about 9.9% below 52-week highs, and are sitting approximately 29.2% above the 50-day moving average.
AMD Price Action: AMD stock was up 1.46% at $219.57 at the time of publication on Tuesday, according to Benzinga Pro.
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