AMD shares rose 0.67% to $207.32 following reports that Arista Networks is aggressively shifting its infrastructure workloads from Nvidia to AMD.
- Arista Networks now utilizes AMD for 20% to 25% of its infrastructure, representing a significant increase from just 1% one year ago.
- Continued market share gains from Intel in the server segment helped mitigate investor concerns regarding recent insider selling by CEO Lisa Su.
- DA Davidson initiated coverage on the stock with a Neutral rating and a price target of $220.