logo-loader
viewAdvanced Micro Devices, Inc.

Advanced Micro Devices stock jumps after getting chip order from Amazon

The processors offer customers a balance of compute, memory and networking resources

AMD offices
AMD is a company that is involved in high-performance computing, graphics and visualization technologies.

Shares of Advanced Micro Devices Inc (NASDAQ:AMD) climbed on Wednesday after the company said the cloud unit of Amazon.com Inc (NASDAQ:AMZN) would begin using its Epyc data center chips to deliver services to third-party customers.

The Epyc chips are part of AMD's Enterprise, Embedded and Semi-Custom business, a unit that is smaller than the Computing and Graphics division that includes chips for personal computers. Epyc has been stoking revenue growth in AMD.

“The availability of multiple AMD EPYC processor-powered instances on Amazon EC2 instances marks a significant milestone in the growing adoption of our high-performance CPUs with cloud service providers,” said Forrest Norrod, senior vice president and general manager, Datacenter and Embedded Solutions Business Group of AMD.

Shares of AMD climbed 2.13% in the Wednesday premarket to $21.12, after closing on Tuesday up by 3.92% to $20.68.

Amazon shares rose 1.62% in the premarket to trade at $1,669.50.

READ: Advanced Micro Devices misses on 3Q revenue as crypto miner demand deflates

Cost savings are driven by the core density of AMD EPYC processors that offer customers a balance of compute, memory, and networking resources for web and application servers, backend servers for enterprise applications, and test/development environments with seamless application migration, AMD said.

Amazon Web Services is the world's largest public cloud infrastructure provider, ahead of Microsoft, whose Azure cloud already offers computing instances powered by Epyc processors.

AMD is a company that is involved in high-performance computing, graphics and visualization technologies.

The company is based in San Francisco, California.

Reporting by Rene Pastor, contactable on [email protected]

Quick facts: Advanced Micro Devices, Inc.

Price: 30.97 USD

NASDAQ:AMD
Market: NASDAQ
Market Cap: $34.11 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Shekel Brainweigh progresses Hitachi Europe R&D and...

Shekel Brainweigh Ltd (ASX:SBW) country manager for Australia Danny Nadri updates Proactive on progress with its signed Hitachi Europe R&D and commercial collaboration agreement.  The automation joint development and marketing agreement is for first-of-its-kind autonomous retail...

2 days, 11 hours ago

2 min read