AMD Shares Surge After Strategic Moves

In a significant boost to its market position, Advanced Micro Devices (AMD) saw its shares climb over 8% in early trading. This surge comes on the heels of two major announcements that have investors buzzing.

Groundbreaking AI Partnership

The chipmaker has entered into a $10 billion artificial intelligence partnership with Saudi firm Humain, unveiled during the US-Saudi summit. This deal marks a pivotal step in AMD's expansion into the global AI platform arena.

Share Buyback Program Announced

Alongside the partnership, AMD announced a new $6 billion stock buyback program, signaling strong confidence in the company's future growth and financial health.

At 9:36 am ET, AMD stock was trading at $121.93, reflecting an 8.31% increase from the previous day's close.