Why AMD Stock Soared 46% in May
Shares of Advanced Micro Devices (NASDAQ: AMD), which primarily makes central processing units (CPUs) for various applications and graphics processing units (GPUs) for enabling artificial intelligence (AI) in data centers, soared 45.6% in May, according to data from S&P Global Market Intelligence. This is not only a phenomenal monthly performance, but it also follows the stock skyrocketing 74% in April.
For context, shares of AI GPU leader Nvidia gained 8.4% in May. For additional context, last month the S 500 index returned 5.3%, and the tech-heavy Nasdaq Composite index returned 8.4%.
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Source Fool.com
