(MarketWatch) Shares of Advanced Micro Devices Inc. posted the highest gain since July 29, 2020 after announcing that Facebook’s parent Meta would use its Epyc processors.
AMD stock was also boosted by an introduction of new products. CEO Lisa Su announced the buildout of Frontier, the first exascale supercomputers in the US, to be powered by EPYC and AMD Instinct processors.
The announcements by AMD come at a time when hardware companies are being touted for bigger roles in helping tech firms in their metaverse endeavors. Nvidia Corp. is also expected to outline its Omniverse Enterprise offering in Tuesday’s keynote address.
AMD shares have now risen by about 36% in the last three months, while rival Nvidia is up 51%.
AMD is up +1.70% on premarket, NVDA is up +3.10% on premarket, FB is down -0.0030% on premarket.
