Investors can't get enough of stocks associated with artificial intelligence (AI) these days. On Thursday, veteran chipmaker American Micro Devices (NASDAQ: AMD) benefited from this after the publication of a media report stating it had found a powerful partner to help it with its AI chip efforts. AMD stock rose to close the day nearly 7% higher, in favorable contrast to the 0.7% decline of the S 500 index. 

That morning, citing unidentified "people with knowledge of the matter," Bloomberg wrote that AMD has teamed up with none other than Microsoft (NASDAQ: MSFT) in its AI chip efforts. According to the article's sources, AMD and Microsoft have joined forces to develop highly AI-capable chips.

The tech giant is providing financial support to the chipmaker, and the two companies are working on a Microsoft processor designed specifically for AI capabilities. This is code-named Athena.

Continue reading

Source Fool.com