Why AMD Stock Popped Today
Shares of Advanced Micro Devices (NASDAQ: AMD) jumped 6.6% on Thursday after the semiconductor leader said it had completed its $1.9 billion purchase of Pensando Systems.
AMD plans to integrate Pensando's distributed services platform into its data center lineup. Pensando's data processing units (DPUs) and software are used by cloud computing heavyweights such as Microsoft (NASDAQ: MSFT), IBM, and Oracle.
"Pensando's leadership DPU complements our data center product portfolio, enabling AMD to offer solutions that can significantly accelerate data transfer speeds while providing additional levels of security and analytics that will play a larger role in defining the performance of next-generation data centers," CEO Lisa Su said in a press release.
Source Fool.com
