AMD, Super Micro tumble as earnings fall short of lofty AI expectations
By
Biju Kumar
Shares of Advanced Micro Devices and Super Micro Computer sank on Wednesday, sparking a selloff in chip stocks, after their earnings disappointed investors who have piled into the sector on hopes rising AI investments would boost demand.
AMD was down more than 6% in premarket trading, and is on course to lose more than $16 billion in market value.