AMD Stock Rises 4.3% After Hours While Nvidia Sinks on the…
By Tobi Opeyemi Amure
AI summary of the source article
AMD shares gained after hours while Nvidia declined following reports that Nvidia's board is preparing to remove CEO Jensen Huang. The movement follows AMD's third-quarter data center revenue surging 97% year over year to $8.5 billion.
Why it matters
Nvidia's upcoming results will test whether the bid under AMD reflects market share gains or the broader AI spending cycle, "because a weak guide would pull AMD down with it despite the governance story being Nvidia’s alone."
Key facts
- AMD stock gained 4.32% after hours to $576.76, while Nvidia dropped 8.62% to $158.76.
- The Wall Street Journal reported Nvidia's board is preparing to remove CEO Jensen Huang, though no decision has been announced.
- AMD reported third-quarter data center revenue reached $8.5 billion, up 97% year over year, within total revenue of $13.38 billion.
Source excerpt · FinanceFeeds
AMD stock was quoted at $572.58 in Thursday’s premarket, up 3.56%, holding the gain it made overnight while Nvidia fell to $163.25, down 6.03%. The split began after Wednesday’s close, when the Wall Street Journal reported that Nvidia’s board is preparing to remove chief executive Jensen Huang. Reuters said the board was meeting late Wednesday to consider his future and could not independently ver…