Why Advanced Micro Devices Rallied Over 24% in July

Shares of Advanced Micro Devices (NASDAQ: AMD) rallied 24.2% in July, according to data from S&P Global Market Intelligence.AMD had a great month, as its toned-down artificial intelligence graphics processing units (AI GPUs) were approved for sale into China, just as rival Nvidia (NASDAQ: NVDA) was cleared to recommence sales of its H20 chip. AMD then got an end-of-month boost when a South Korean news outlet reported that AMD was substantially increasing the price of its Instinct AI GPUs, showing off some pricing power on its most important product.Artificial intelligence stocks generally had a pretty good month in July. All of the big cloud hyperscalers increased their outlooks for capital expenditures going to AI data centers, and AMD will undoubtedly be a beneficiary of this as it seeks to become a trusted second source behind Nvidia.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool