Advanced Micro Devices Inc. (AMD) shares rallied Wednesday after the chip maker said it was launching a new wave of PC chips based on its 7-nanometer architecture. AMD shares surged 7.6% to $61.31 in recent trading, their highest level since mid-February when they touched $59.27, while the PHLX Semiconductor Index was only up 0.2%. The Santa Clara, Calif.-based chip maker said it launched its Ryzen 4000 series of desktop chips, and that partners like Lenovo Group Ltd. and HP Inc. (HPQ) will include the chips in the their PCs starting in the third quarter. One line of the 4000 series chips will include built-in Radeon graphics for gaming and content creations, while AMD's PRO series with security features will be focused on the enterprise market.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 22, 2020 12:08 ET (16:08 GMT)
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