AI Chip Stocks Rise Today: AMD, Intel and Nvidia Climb on New Meta and Oracle Deals

AI Chip Stocks Rise Today: AMD, Intel and Nvidia Climb on New Meta and Oracle Deals

Shares of the biggest AI chipmakers rose on Wednesday, October 28, as investors welcomed a string of new deals linking the chip industry to Meta and Oracle. Advanced Micro Devices climbed 5.45 percent on Tuesday after confirming that its Helios rack-scale systems are now running at Meta, while Intel gained on an expanded partnership with Oracle and Nvidia announced a 3 billion dollar investment in Meta's planned share offering. Strong earnings from South Korea's SK hynix and Anthropic's public IPO filing added to the optimism about chip demand.

AMD's deal with Meta is the deepest of the three. The chipmaker will also invest 1 billion dollars in Meta's share offering, building on an earlier agreement for up to 6 gigawatts of AMD graphics processors for Meta's AI infrastructure. AMD reports third-quarter results on November 3, with analysts expecting earnings of 1.94 dollars per share on revenue of 13.08 billion dollars. Intel, meanwhile, will supply more Xeon computing power to Oracle Cloud Infrastructure, including planned X14 offerings powered by next-generation Diamond Rapids processors, ahead of its own results on October 29.

Nvidia plans to put 3 billion dollars into Meta's offering as Meta expands its use of Nvidia systems, including the Vera Rubin platform, for its next generation of AI. The rally is not without a warning sign for Nvidia: Oracle is also adding chips from Google, Cerebras and SambaNova to its cloud network, as cloud providers look for alternatives.

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