AMD Jumps 9.2% to $567.28 as Turing Shifts 10% of AI Training to Its GPUs
Updated
Updated · stockstory.org · Jul 6
AMD Jumps 9.2% to $567.28 as Turing Shifts 10% of AI Training to Its GPUs
2 articles · Updated · stockstory.org · Jul 6
Summary
AMD rose 9.2% to a 52-week high of $567.28 after Japan's self-driving startup Turing said it had begun using AMD AI GPUs and also took funding from AMD's venture arm.
Turing had previously relied on Nvidia and now runs about 10% of its AI training on AMD hardware, giving AMD a notable customer win as it tries to expand in AI chips.
The gain was reinforced by a steadier chip sector and fresh Wall Street optimism: Wells Fargo lifted its AMD target to $615 on June 30, while Cantor Fitzgerald raised its target to $700.
The rebound follows a 6% AMD drop four days earlier, when fears of cooling AI-chip demand and possible hyperscaler overcapacity knocked semiconductor stocks lower.