Advanced Micro Devices (AMD) extended its rally into a seventh straight session, climbing 7.71% to close at $249.80, fueled by increasing AI demand expectations and a significant vote of confidence from a major growth investor.
- Growth investor Cathie Wood provided a bullish signal by adding to Ark Invest's existing AMD position on January 20.
- The ongoing momentum is tied to strong expectations for the upcoming Q4 earnings release (Feb 3), driven by robust server chip demand and the anticipated MI450 launch later this year.