AMD Shares Soar 7% on Expanded Meta Chip Supply Deal
Advanced Micro Devices shares jumped 7.03% after an expanded chip supply agreement with Meta Platforms. The US consumer confidence index rose to 91.2, surpassing forecasts of 86.8 and underpinning broader tech sector gains.
1. Expanded Chip Supply Deal with Meta Platforms
Meta Platforms agreed to expand its chip supply contract with Advanced Micro Devices, positioning AMD as a key supplier for Meta’s data-center and AI infrastructure.
2. AMD Shares Jump 7.03% on News
Advanced Micro Devices stock surged 7.03% in afternoon trading as investors reacted to the enhanced partnership, marking one of the largest one-day gains for AMD this year.
3. Consumer Confidence Supports Tech Stocks
The US consumer confidence index rose to 91.2, topping estimates of 86.8 and bolstering broader technology sector gains, which helped lift semiconductor stocks.
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