Advanced Micro Devices, Inc. (NASDAQ: AMD) shares experienced a dip during Thursday’s premarket session, reacting to Micron Technology Inc.’s (NASDAQ: MU) third-quarter financial results announced on Wednesday. Despite this, AMD managed to rebound during regular trading hours on the same day.
In a significant development, AMD is poised to unveil a new technology aimed at revolutionizing the gaming experience by drastically reducing download times. This new system, called Neural Texture Block Compression, leverages the power of artificial intelligence and will be introduced at the upcoming Eurographics Symposium on Rendering in London this July. AMD is emphasizing its AI capabilities by rebranding its laptop gaming CPUs under the AMD AI name, akin to competitor Nvidia Corp. (NASDAQ: NVDA). Nonetheless, AMD acknowledges that it still needs to make strides to match Nvidia’s dominance in AI.
A statement from AMD’s GPUOpen platform underscored the widespread frustration with lengthy game downloads, noting that their innovative AI-driven compression technique promises to significantly cut data sizes. Nvidia has previously explored similar concepts.
Over the past year, AMD stock has seen a 43% increase. Investors can gain exposure to AMD through investment vehicles such as the Invesco QQQ Trust, Series 1 (NASDAQ: QQQ), and the SPDR S&P 500 (NYSE: SPY).
Price Actions: As of the latest check on Thursday, AMD shares were up 0.48%, trading at $158.30. This comes during a busy period for AMD, with the anticipated release of the first Zen 5 CPUs slated for July 2024.
Source: Benzinga
