Why Is Advanced Micro Devices (AMD) Stock Jumping Today?

Shares of Advanced Micro Devices (NASDAQ: AMD) are rising on Wednesday, up 2.2% as of 2:19 p.m. ET but were up as much as 5.6% earlier in the day. The gain comes as the S&P 500 and the Nasdaq Composite gained 0.3% and 0.1%, respectively.The artificial intelligence (AI) chipmaker's stock is jumping as investors react to Oracle's massive earnings, which revealed a nearly $500 billion backlog.Oracle reported earnings that included $455 billion in total remaining performance obligations (RPOs), essentially future revenue for which it is already contracted and now must deliver on. The cloud infrastructure provider plans to deploy $35 billion in capital expenditures (capex) in its fiscal 2026, signaling demand is still white hot for AI chips like those from AMD.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool