Advanced Micro Devices, Inc. (NASDAQ: AMD) is having an overwhelmingly strong start to the trading session this morning after the company announced that it has designed a semi-custom graphics processor unit that will be incorporated into a new Intel product. Of course, this led to excitement among investors who are sending the stock toward the top. Below, we’ll talk about the news, what we’re seeing from AMD as a result, and what we’ll be watching for ahead.
AMD Announces New GPU
As mentioned above, Advanced Micro Devices is having an incredibly strong day in the market today after the company announced that it has designed a semi-custom graphics processor unit, or GPU. The new GPU will be integrated into a new Intel multi-chip processor package. The new multi-chip processing package by Intel will feature an Intel® CoreTM processor, semi-custom RadeonTM graphics chip, and second generation High Bandwidth Memory. In a statement, Scott Herkelman, Vice President and General Manager at AMD Radeon Technologies Group, had the following to offer:
“Our collaboration with Intel expands the installed base for AMD Radeon GPUs and brings to market a differentiated solution for high-performance graphics… Together, we are offering gamers and content creators the opportunity to have a thinner-and-lighter PC capable of delivering discrete performance-tier graphics experiences in AAA games and content creation applications. This new semi-custom GPU puts the performance and capabilities of Radeon graphics into the hands of an expanded set of enthusiasts who want the best visual experience possible.”
What We’re Seeing From AMD
As we’ve come to expect any time a company releases positive news with regard to a new product, AMD is having an incredibly strong day in the market today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:28), AMD is trading at $11.79 per share after a gain of $0.67 per share (6.04%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMD. In particular, we’re interested in following the story surrounding the new GPU that will be used in Intel’s new product offering. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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