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Advanced Micro Devices (AMD) stock was down again on Tuesday as concerns about AI spending have weighed down the sector.
OpenAI failed to meet its own revenue and user growth targets, impacting sector sentiment.
KEY POINTS
- AMD supplies components to OpenAI for data centers, linking its performance to OpenAI’s demand.
- Market concerns suggest the AI-driven boom in CPU and GPU sales may be shorter than expected.
- Wall Street's average AMD price target is $295.04, implying an 8.34% downside from current levels.
COMPANIES
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