Advanced Micro Devices Inc. (NASDAQ:AMD) stock rose in Wednesday’s premarket session after falling 7.30% in the previous trading session. The rebound came as technology stocks moved higher and the chipmaker announced a new artificial intelligence infrastructure agreement.
AMD appeared to attract dip buyers after Tuesday’s sharp selloff. Nasdaq futures gained 0.53%, while S&P 500 futures rose 0.09%. The rebound also puts the focus back on AMD’s recent highs. Traders will watch whether the stock can build enough momentum to challenge its June peak.
AMD, Rackspace Sign Deal To Deploy 30 MW Of AI Compute For Enterprise AI
AMD and Rackspace Technology Inc. (NASDAQ:RXT) have signed a definitive agreement to deploy an initial 30 megawatts of AMD-powered AI compute across Rackspace’s global data centers between late 2026 and 2028.
The deployment formalizes the memorandum of understanding announced in May and will combine AMD Instinct GPUs and EPYC CPUs to power Rackspace’s governed Enterprise AI Cloud for regulated industries such as healthcare.
