AMD’s Stock Slump Shows There’s No Silver Medal in AI
- Lack of an AI sales guidance added to fears about competition
- Shares have dropped to their lowest since November 2023
The Advanced Micro Devices headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Regarded as the biggest competitor to Nvidia Corp. in making chips used to train artificial intelligence software, Advanced Micro Devices Inc.’s shares look less like an immediate rival.
The stock is mired at the lowest level since November 2023, down more than 25% since the end of that year. The Philadelphia Stock Exchange Semiconductor Index is up more than 20% over that time, while Nvidia has soared 160%. AMD fell 0.9% on Friday.