AMD shares surge 16% after Google and Twitter say they’re using the chipmaker’s new processor.
Advanced Micro Devices (AMD) jumped 16% on Thursday after the semiconductor manufacturer said Google and Twitter are using the company’s newest data center processors.
AMD announced the launch of the second generation of its EPYC chips designed for high-performance uses like in the cloud or inside large enterprises. It’s a business dominated by Intel, which controls about 98% of the market, but where AMD is looking to rapidly expand. According to a recent report from Atlantic Equities, AMD’s share of the data center market should grow to 25% in a decade from 2% last year.
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