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AMD Drops 2.9% as Nvidia Earnings Create Stress Test for AI Chips

AMD logoAMD
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NVIDIA logoNVIDIA
Sig1.60Sen-1.20Env0.00Soc0.00Gov0.00

Advanced Micro Devices fell about 2.9% to $459.24 as all Philadelphia Semiconductor Index stocks traded lower and Nvidia’s upcoming earnings became a stress test for AI-chip demand. AMD reported record Q2 revenue of $11.5B, including ~$6.7B from data centers, but investors weigh execution risk and a valuation around 118x, with the stock ~67% above an internal value estimate.

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