AMD jumps more than 5% after Nvidia's rival chip debut

Advanced Micro Devices Inc (AMD) jumped more than 5% on Thursday following the presentation of the new Instinct MI300 accelerator chip, unveiled during yesterday's Advancing AI event.

According to the company, this new chip will be a breakthrough in the market, directly challenging Nvidia's H100. Following the event, AMD stated that Meta Platforms Inc. and Microsoft Corporation will incorporate the Instinct MI300 into their companies.

At 9:55 am ET, AMD rose 5.23% and was selling at $122.83.

Baha Breaking News (BBN) / JG