Advanced Micro Devices shares surged more than 6% on Thursday. The stock reached intraday highs of 7% during afternoon trading. This movement led a broad rally across the semiconductor sector.
The gain marks the third consecutive day of growth for chip stocks. Bullish analyst sentiment following recent investor calls drove the upward momentum.
Management confirmed that demand for CPU and GPU products currently outpaces supply. The company is actively working to increase production capacity. Strong interest in AI accelerators continues to bolster investor confidence despite concerns over premium valuations.