“`html
AMD Shares Surge After Oracle Deal
Shares of Advanced Micro Devices (NASDAQ: AMD) rose 9.4% on Wednesday as the S&P 500 and Nasdaq Composite gained 0.4% and 0.6%, respectively. This spike follows an announcement by Oracle, which intends to purchase 50,000 AMD MI450 chips to enhance its cloud computing servers by the end of 2026.
The MI450 chips are designed to compete with Nvidia products, marking a significant shift in AMD’s standing in the AI sector. Additionally, a recent agreement could see OpenAI acquire around 10% of AMD in exchange for purchasing a substantial number of chips, further solidifying AMD’s role in the AI market.
“`
