AMD, Intel Jump Over 4.5% as AI Trade Broadens Beyond Nvidia's 0.8% Gain
Updated
Updated · Yahoo Finance · Sep 7
AMD, Intel Jump Over 4.5% as AI Trade Broadens Beyond Nvidia's 0.8% Gain
3 articles · Updated · Yahoo Finance · Sep 7
Summary
AMD rose 4.7% and Intel 4.5% on Sept. 4, outpacing Nvidia's 0.8% gain in a one-session move that signaled investors are chasing AI exposure beyond the market leader.
AMD's case rests on record Q2 revenue of $11.5 billion, up 50%, with 58% from Data Center, while Intel posted $6.3 billion in Data Center and AI revenue, up 59%, helped by CPUs, custom silicon and packaging.
The rally still leaves major execution tests: AMD must prove rack-scale adoption and software can rival Nvidia's ecosystem, while Intel must show its manufacturing rebuild can generate acceptable returns despite negative $8.4 billion adjusted free cash flow.
Hedge-fund ownership had already been rising before the Sept. 4 jump—AMD was held by 164 funds in Q2 versus 134 in Q1, and Intel by 138 versus 112—though those filings do not show whether funds bought into the rally.
The broader implication is a more plural AI supply chain rather than a zero-sum hit to Nvidia; the next proof points are shipments, margins and free cash flow.