What's Going On With AMD Stock Wednesday

Advanced Micro Devices, Inc AMD continues to disclose critical updates to drive growth.

On Wednesday, the chipmaker disclosed plans for continued growth in Ireland through an investment of up to $135 million over four years. 

The investment will likely fund several strategic R&D projects by adding up to 290 highly skilled engineering and research positions and a broad range of additional support roles.

Also Read: Opportunities in DC, AI, Gaming, and Auto Drive Nvidia's Share Growth: Analysts

The Irish government supports the new investment. Before the acquisition of Xilinx by AMD in 2022, Xilinx partnered with IDA Ireland on several occasions to advance semiconductor innovation in Ireland. Most recently, in 2017, Xilinx announced a $40 million investment to expand its research, development, and engineering operations and recruit over 100 new skilled employees.

AMD also announced that its AMD EPYC Embedded Series processors are powering Hewlett Packard Enterprise Co's HPE new modular, multi-protocol storage solution, HPE Alletra Storage MP. 

HPE Alletra Storage MP allows customers to deploy, manage, and orchestrate data and storage services via the HPE GreenLake edge-to-cloud platform eliminating data silos and reducing cost and complexity while improving performance.

HPE Alletra Storage MP uses a range of EPYC Embedded processor models, with performance options ranging from 16 - 64 cores and a thermal design power profile ranging from 155W - 225W.

The stock has gained over 82% YTD.

Price Action: AMD shares traded lower by 3% at $115.33 on the last check Wednesday.

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