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Advanced Micro Devices, Inc (NASDAQ:AMD) stock is trading higher on Thursday.
The company, considered a Nvidia (NASDAQ:NVDA) rival, certified that a recent cyberattack — allegedly carried out by Intelbroker — failed to compromise business-critical data.
AMD confirmed to Benzinga that it worked closely with law enforcement officials and a third-party hosting partner to analyze the hack. It did not expect the attack to affect its operations materially. The stock got some respite Thursday from Wednesday selloff.
AMD supplier Taiwan Semiconductor Manufacturing Co (NYSE:TSM) is considering a new method of advanced chip packaging. The goal is to address the AI frenzy for computing power, posing another positive update for companies like AMD.
Also Read: Microsoft Is Betting Big on AI, Outpacing Rivals with New Strategy
Prior reports indicated that companies, including Apple Inc (NASDAQ:AAPL) Nvidia, and AMD, have nearly booked TSMC’s 3nm process to total capacity through 2026.
Meanwhile, AMD announced that Sun Singapore Systems, Singapore’s leading smart parking solutions provider, is deploying an AI-based smart parking solution using AMD Zynq UltraScale+ MPSoC devices. This system enhances license plate recognition accuracy and introduces features like parking spot detection, lane jam, accident detection, and violation enforcement.
The AI-based system, developed with PlanetSpark’s EdgeAI Box X7 and Aupera Technologies’ FPGA firmware, ensures low latency, energy efficiency, and real-time AI processing. It adapts to changing AI models and standards, offering long-term flexibility.
Price Actions: AMD shares were trading higher by 0.79% at $155.86 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
