Elon Musk is seemingly shaking up the microchip market, sending Advanced Micro Devices Inc (NASDAQ:AMD) and Nvidia Corporation (NASDAQ:NVDA) stock in opposite directions.
AMD shot up around 4% in Wednesday’s dealing, whereas Nvidia fell back as much as 2%.
It followed reports on Wednesday that Musk’s electric car pioneer Tesla Inc (NASDAQ:TSLA) is working on a deal with AMD for a project to create its own artificial intelligence chips for its planned self-driving plans.