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Why AMD Stock Rallied on Thursday

TheMotleyFool

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Shares of Advanced Micro Devices (NASDAQ: AMD) rallied today, up by 6% as of 3:40 p.m. EDT, after the company announced that Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google had picked AMD's newest data center chip to launch a new service.

The two technology companies have partnered to utilize AMD's third-generation EPYC processors to power a new family of Tau virtual machines (VMs) within Google Cloud. Tau VMs will extend Google Cloud's existing VM services with a new offering that is designed to be deliver cost-effective performance of scale-out workloads.

Image source: AMD.

Source Fool.com

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