Posted 3/1/2024, 2:51:30 PM
AMD, Dell Stocks Surge on Major AI Chip Orders, Continuing 2023 Tech Rally
- AMD stock up 30% in pre-market trading, continuing strong 2023 performance fueled by AI hype
- Dell stock also surging 30% pre-market on news of significant orders for new AMD-made MI300X chip
- MI300X chip will start shipping this quarter and ramp up through the year
- Note from Melius Research suggests traditional server CPUs helping support AMD margins
- AMD still seen as lagging Nvidia on AI technology, but getting investor attention