AMD News: Advanced Micro Devices stock gains as NASDAQ hits new all-time highs

NASDAQ:AMD added 0.30% on Monday alongside a rally by big tech companies.
AMD is set to beef up Microsoft’s new Xbox console with its latest FidelityFX GPUs.
A tech giant wades into the microchip discussion with a groundbreaking new technology.

Stocks Reporter FXStreet

NASDAQ:AMD has been the topic of bullish stock discussions after current industry leader NVIDIA (NASDAQ:NVDA) has shown massive strength in the past few months. AMD is widely considered to be in second place now, after surpassing Intel (NASDAQ:INTC) in CPU market share for computers and laptops. On Monday, AMD added 0.30% to close the trading session at $81.55. AMD rode the strong finish by the NASDAQ after the stock spent most of the morning session in the red. The NASDAQ closed Monday at a new all-time high as big tech companies led the way, shrugging off rumors of new anti-competitive bills from U.S. lawmakers.

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Video games are one of the hottest sectors to invest in and the next gen consoles from Microsoft (NASDAQ:MSFT) may just be getting a boost to level the playing field against Sony (NYSE:SONY). AMD is providing the new Xbox consoles with its Radeon FidelityFX GPUs which could help to improve the graphics and frame rates of the console’s games. The Xbox has lagged the Playstation 5 in sales since both systems launched, so the new AMD chips could potentially help the Xbox take a bite out of Sony’s lead.

AMD stock forecast

Last week Alphabet (NASDAQ:GOOGL) revealed that it has been working on using artificial intelligence and machine learning to develop chips in a fraction of the time. Google has been able to design chips within six hours compared to taking human beings up to six months for the same design. This could potentially have a major impact on the chip industry moving forward, especially as companies continue to battle through the global chip shortage that is expected to last until at least 2022.

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