AMD Share Price and News: AMD gains as tech sectors rally into the August OPEX close

NASDAQ:AMD added 0.92% on Friday as the broader markets rallied.
AMD rival NVIDIA gets some uncomfortable news from UK regulators.
AMD launches a new open-source portal project called Infinity Hub.

Stocks Reporter FXStreet

NASDAQ:AMD has seemingly cooled off over the last couple of weeks, after continuously hitting new all-time highs in late July. AMD has pulled back from it's all-time high price of $122.49 and seems to be consolidating before its next move up. On Friday, shares added 0.92% to close the OPEX trading week at $104.65. The move still lagged the broader NASDAQ index which closed the session up 1.2% on the strength of big tech stocks including Microsoft (NASDAQ:MSFT) which hit a new all-time high. The Dow Jones and S&P 500 also finished the day higher, but still recorded a loss for the overall week.

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One of AMD’s main rivals, NVIDIA (NASDAQ:NVDA) continued to power higher on Friday on the strength of its recent earnings report, as well as multiple Wall Street upgrades. Despite this, the company received some unsettling news about its ongoing attempts to acquire Arm Holdings, a UK semiconductor and artificial intelligence company. The UK’s Competition and Markets Authority or CMA, is requesting a Phase 2 investigation into the merger. The agency cites that ‘NVIDIA controlling ARM could create real problems’ and that it would limit access to certain technologies for NVIDIA’s rivals.

AMD has officially launched its new open-source software portal which helps with the rollout and advancements for the company’s HPC or High-Performance Computing products. The ecosystem is meant to help make it easier to deploy HPC updates and will be called AMD’s Infinity Hub. The platform will be going head to head with NVIDIA’s CUDA ecosystem.

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Stocks Reporter

FXStreet

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