AMD's stock is surging, here's why
Semiconductor shipments surge to record highs
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AMD is on pace to close at an all-time high with the biggest percentage increase since July of 2020 thanks to a deal with Facebook.
|AMD||ADVANCED MICRO DEVICES, INC.||150.16||+13.82||+10.14%|
The chipmaker announced that the social media giant, which will transform to its new name Meta in December, has chosen its processors, "EPYC CPUs for its data center," according to the company.
FACEBOOK UNVEILS NEW NAME AS COMPANY DIVES DEEP INTO METAVERSE
|FB||META PLATFORMS, INC.||338.62||-2.51||-0.74%|
"We are in a high-performance computing megacycle that is driving demand for more compute to power the services and devices that impact every aspect of our daily lives," said Dr. Lisa Su, president and CEO, AMD. "We are building significant momentum in the data center with our leadership product portfolio, including Meta’s adoption of AMD EPYC to power their infrastructure and the buildout of Frontier, the first U.S. exascale supercomputer which will be powered by EPYC and AMD Instinct processors."