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The AI chip spending cycle has delivered some of the year's most dramatic stock moves across the semiconductor sector.
Advanced Micro Devices sits at the sharper end of that run, with its stock up 132% in 2026, and shares gave back ground after the company's latest earnings landed.
Chief executive Lisa Su used the occasion to address Elon Musk's publicly stated commitment to Nvidia, arguing the market was overreacting to the news.
Su's rebuttal and the demand narrative AMD's position as a sector beneficiary of AI-driven infrastructure spending has built steadily through the year.
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