On October 2, Advanced Micro Devices rose 3.06% in regular trading, trading at $636.615/share, with turnover of $1.591 billion. The stock continued to gain as the market digested AMD's landmark $8.2 billion all-stock acquisition of World Labs, the AI startup founded by renowned AI scientist Fei-Fei Li.
AMD announced the deal on September 28, marking its second-largest acquisition in history. Upon completion, Fei-Fei Li will join AMD as Executive Vice President and Chief Scientist, reporting directly to CEO Lisa Su. The acquisition positions AMD to enter the spatial intelligence and physical AI domains, aiming to internalize model research capabilities as a driver for chip design and compete head-on with NVIDIA in next-generation AI infrastructure.
Wall Street has responded favorably. Bank of America raised its price target on AMD from $620 to $720 while maintaining a Buy rating, and Rosenblatt also maintained its Buy rating, noting the deal will strengthen AMD's AI software and systems capabilities. Additionally, AMD's data center segment posted $5.8 billion in revenue in Q1, up 57% year-over-year, underscoring its growing AI momentum. Within the broader semiconductor sector, peers also traded higher, with Intel up 3.23%, NVIDIA up 2.37%, and Marvell Technology up 3.47%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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