That's brutal though not as brutal as when a CEO dies and the stock trades higher.
A twofer, first up, MarketWatch October 10:
AMD’s AI event features new chips — but it doesn’t help the stock
AMD’s stock is off more than 4% following its Advancing AI keynote. Last year’s event delivered a major boost to shares.
Advanced Micro Devices Inc. has wrapped up its Advancing AI keynote, and judging by the stock’s downward move, investors seemed to be hoping for more.
Last year’s version of this event proved to be a major catalyst for AMD’s stock with shares rising 10% in the following session before going on a strong run through the end of the year.But investors hoping this year’s event could end up being a similar driver of stock momentum haven’t seen that play out so far, with AMD shares off more than 4% following the keynote....
....MUCH MORE
And from CNBC:
AMD launches AI chip to rival Nvidia’s Blackwell
- AMD launched a new artificial-intelligence chip on Thursday that is taking direct aim at Nvidia’s data center graphics processors, known as GPUs.
- The Instinct MI325X’s rollout will pit it against Nvidia’s upcoming Blackwell chips, which will start shipping in significant quantities early next year.
- If AMD’s AI chips are seen by developers and cloud giants as a close substitute for Nvidia’s products, it could put pricing pressure on Nvidia.
NVDA is trading up $1.30 (+0.98%) at $133.95.
Snark aside, it will pay to keep an eye on the new chip as Nvidia's technological lead is not insurmountable, just difficult to attack.
