AMD will intensify its battle with Intel in the data center chip market.
The S&P 500 lost 3.5%, Dow Industrials fell 2.8%, the Nasdaq composite plunged 5% and the Russell 2000 dropped 3%.
Intel said the chips use a new manufacturing technique and other tweaks that make them more powerful at tasks such as using artificial intelligence to reduce background noise during video calls.
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Advanced Micro Devices designs and produces microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the computer market via CPUs and GPUs. AMD acquired graphics processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain. In 2009, the firm spun out its manufacturing operations to form a foundry joint venture, GlobalFoundries. In 2020, the firm agreed to acquire FPGA-leader Xilinx.
| Website: | www.amd.com |
| Email: | Investor.Relations@amd.com |
| Main Phone: | +1 408 749-4000 |
| Address: | 2485 Augustine Drive |
| Address 2: | P.O. Box 3453 |
| State: | CA |
| City / Town: | Santa Clara |
| Country: | US |
| Postal Code: | 95054 |
| Exchange: | NGS |
| CEO: | Lisa T. Su |
| Employees: | 12600 |
| NAICS: | Semiconductor and Related Device Manufacturing(334413) |
AMD will intensify its battle with Intel in the data center chip market.
The S&P 500 lost 3.5%, Dow Industrials fell 2.8%, the Nasdaq composite plunged 5% and the Russell 2000 dropped 3%.
Intel said the chips use a new manufacturing technique and other tweaks that make them more powerful at tasks such as using artificial intelligence to reduce background noise during video calls.
The benchmark index fell 0.8%, its largest loss in almost three weeks, as traders cashed in on some of the market’s recent gains. Financial, industrial and health care stocks led the slide.
The company said it could not make a forecast for the full year because of economic uncertainty caused by the coronavirus pandemic.
New restrictions on commerce between Huawei and suppliers like TSMC are among several options to be considered at high-level meetings this week and next.
Sales from the data center business surged 43% in the fourth quarter to $968 million.
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