AMD Gains 3% Premarket on Apple-Intel Foundry Deal, Completes MEXT AI Acquisition
AMD•AMD shares jumped about 3% in premarket trading after President Trump announced Apple’s partnership with Intel to design and manufacture chips domestically, potentially altering foundry dynamics away from TSMC. Bernstein raised its price forecast and AMD completed its acquisition of MEXT memory-optimization technology to improve AI inference performance.
1. Shares Surge on Apple-Intel Foundry Announcement
AMD shares climbed roughly 3% in premarket trading after the U.S. president revealed Apple’s plan to partner with Intel for domestic chip design and manufacturing, signaling potential shifts in global foundry dynamics and pressure on TSMC capacity.
2. Bernstein Raises Price Forecast
Bernstein lifted its price target for AMD, citing the chipmaker’s strong positioning in graphics and data-center markets along with renewed investor enthusiasm for large-cap semiconductor stocks.
3. Acquisition of MEXT for AI Memory Optimization
AMD finalized the acquisition of MEXT, securing advanced memory-optimization technology designed to boost inference performance and agentic AI capabilities across its processor lineup.
