AMD Stock Extends Decline In Pre-Market On Meta’s Reported Interest In Google’s TPUs – Mizuho Warns Of A ‘Modest Challenge’
Synopsis
AMD makes Graphics Processing Units, and Google’s Tensor Processing Units could eat into the former’s market share.
Shares of Advanced Micro Devices Inc. (AMD) were down by nearly 1% in Wednesday’s pre-market trade, extending its decline, after falling over 4% during the previous trading session.
The decline in AMD shares comes amid reports that Meta Platforms Inc. (META) is considering buying Alphabet Inc.-owned (GOOG) (GOOGL) Google’s Tensor Processing Units (TPU) for use in its data centers.
According to TheFly, analysts at Mizuho flagged that this could prove to be a “modest challenge” for Lisa Su-led AMD and Nvidia Corp. (NVDA). Both companies make graphics processing units (GPU), and Google’s TPUs could eat into their market shares.
Retail sentiment around AMD trended in the ‘bullish’ territory at the time of writing.
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