What's Going On With AMD Stock Thursday?

Advanced Micro Devices, Inc AMD, touted as the closest rival to artificial intelligence kingpin Nvidia Corp NVDA ruling the AI accelerator market, upped competition with its recent launch of artificial chip MI300X launch and sharing a focus on the Indian market.

After gaining market share in PCs and servers, AMD forayed the AI accelerator market with its MI300, targeting a market that could grow to over $400 billion in four years.

However, Intel Corp's INTC latest move made the stock a tad jittery.

Meanwhile, Intel stock climbed Thursday as it shared intentions to intensify the rivalry with Nvidia and AMD by launching its Gaudi 3 AI accelerator.

Intel is eying the new wave of AI applications, expecting it to constitute 80% of PCs sold within four years.

Also Read: Citi Analyst Predicts Intel And Micron As Biggest Beneficiaries In US CHIPS Act Push, Despite Regulatory Hurdles

AMD received at least three bullish ratings (Rosenblatt, Stifel, Raymond James) in December 2023, including at least one price target boost by Raymond James. 

Winning Microsoft Corp MSFT and Meta Platforms Inc's META, further bolstered by the latter's plans to use MI300X for inferencing, won the stock analyst conviction.

AMD stock gained over 6% in the last five days, versus Intel with around 9%.

Price Action: AMD shares traded lower by 0.91% at $136.93 on the last check Thursday.