Advanced Micro Devices Inc (NASDAQ:AMD) stock ticked lower on Thursday. The stock is trending on pin action after NVIDIA Corp’s (NASDAQ:NVDA) strong quarterly results kept investor attention on AI-chip demand and data-center spending.
Nvidia Results Keep AMD In Focus
Nvidia stock jumped more than 7% premarket on Thursday after the company posted second-quarter revenue of $96.22 billion, topping the $92.18 billion estimate. Adjusted EPS of $2.22 also beat the $2.10 estimate.
Nvidia guided third-quarter revenue to between $105.84 billion and $110.16 billion and ended the quarter with $99.0 billion remaining under its share repurchase authorization.
The upbeat AI demand commentary kept AMD in focus because investors often use major AI infrastructure results to assess expectations for GPU demand and data-center spending. S&P 500 futures rose 0.3% before the opening bell.
