On April 28, Advanced Micro Devices (AMD) fell 6.07% intraday, trading at $321.51 per share, with trading volume of approximately $3.044 billion.
The decline was primarily triggered by reports that OpenAI is experiencing a growth slowdown, sending a wave of selling pressure across AI-associated stocks. The broader market reflected this sentiment, with the Nasdaq falling 1.11% and the S&P 500 declining 0.48%. Among AI-linked names, CoreWeave dropped over 7%, Oracle fell nearly 6%, NVIDIA slid over 3%, and AMD itself was down over 5% at the open.
Notably, AMD had enjoyed a strong rally earlier in April, with its market capitalization surging past $567 billion on the back of a significant revaluation of CPU value in the AI era and an improving CPU-to-GPU deployment ratio. The company is scheduled to report Q1 earnings on May 5, which may provide further clarity on its AI-driven growth trajectory. However, concerns over the pace of AI adoption and monetization appear to have prompted near-term profit-taking.
Within the Semiconductors sector, the overall trend was broadly negative. Among major peers, NVIDIA fell 2.42%, Micron Technology dropped 2.22%, Intel declined 2.69%, Broadcom lost 3.72%, and TSMC slipped 2.68%.
(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.)
