Flex Secures Multiyear AMD GPU Manufacturing Deal as Oil Spike Sends Shares Down
Flex shares dipped in afternoon trading after Brent crude surged 13% above $82 a barrel on Strait of Hormuz chokepoint disruptions, contributing to broader tech sector declines. Separately, Flex secured a multiyear manufacturing partnership with AMD to produce Instinct MI355X GPUs at U.S. facilities.
1. Afternoon Trading Pressure from Oil Supply Disruption
Flex shares fell during the afternoon session after Brent crude prices jumped 13% to over $82 a barrel. The surge followed shipments through the Strait of Hormuz being choked off, raising inflation concerns and triggering a sell-off in technology and manufacturing stocks, including Flex.
2. Strategic U.S. Manufacturing Partnership with AMD
Flex entered a multiyear agreement with AMD to accelerate domestic production of Instinct MI355X GPU platforms. Under the deal, Flex will leverage its U.S. manufacturing sites to meet growing demand for AI-focused data center hardware, strengthening its role in high-performance computing supply chains.