Why AMD Shares Are Rising

Advanced Micro Devices (NASDAQ: AMD) shares are trading higher after the company presented at its Accelerated Data Center event. The company announced Meta (NASDAQ: FB) chose EPYC CPUs for its data center.

"We are building significant momentum in the data center with our leadership product portfolio, including Meta's adoption of AMD EPYC to power their infrastructure and the buildout of Frontier, the first U.S. exascale supercomputer which will be powered by EPYC and AMD Instinct processors," said Dr. Lisa Su, president and CEO, AMD.

According to the press release, AMD and Meta worked together to define an open, cloud-scale, single-socket server designed for performance and power efficiency, based on the 3rd Gen EPYC processor. Further details will be discussed at the Open Compute Global Summit later this week, said AMD.

Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox.

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AMD has a 52-week high of $149.99 and a 52-week low of $72.50.