Why Advanced Micro Devices Stock Is Skyrocketing This Week -- Has the Nvidia Rival's Day Finally Come?
Shares of Advanced Micro Devices (NASDAQ: AMD) are flying higher this week. The company's stock has gained 14.2% as of 12:02 p.m. ET on Friday. The S&P 500 and Nasdaq-100 indexes both had major gains in the same period.The chipmaker announced a significant expansion of its share buyback program this week and revealed a massive deal with a Saudi Arabian artificial intelligence (AI) company.AMD's board of directors approved $6 billion in additional share buybacks, supplementing the company's existing $4 billion repurchase authorization. The expanded program signals leadership's confidence in AMD's direction and financial health amid the ongoing AI boom.Continue reading
Shares of Advanced Micro Devices (NASDAQ: AMD) are flying higher this week. The company's stock has gained 14.2% as of 12:02 p.m. ET on Friday. The S&P 500 and Nasdaq-100 indexes both had major gains in the same period.
The chipmaker announced a significant expansion of its share buyback program this week and revealed a massive deal with a Saudi Arabian artificial intelligence (AI) company.
AMD's board of directors approved $6 billion in additional share buybacks, supplementing the company's existing $4 billion repurchase authorization. The expanded program signals leadership's confidence in AMD's direction and financial health amid the ongoing AI boom.
