AMD and Intel stocks rose on Friday, rebounding after a sector-wide sell-off a day earlier as investors returned to select technology shares despite weakness across the broader market. Advanced Micro Devices (AMD) gained 2%, while Intel was up 1.76%.
Intel INTC and AMD tumbled again on Thursday as surging oil prices and renewed concerns over the returns on artificial intelligence investments pushed investors toward a more cautious stance. AMD declined 6.64% while Intel dropped 6.17% in morning trading, with other chip stocks also under pressure alongside the broader market.
Intel stock has pulled back into a bear market as investors dump high-flying artificial intelligence (AI) companies. The shares have slumped 34% from their all-time high, with the company's market capitalization falling from $707 billion to $493 billion.
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