Advanced Micro Devices, Inc (NASDAQ:AMD) stock is trading higher Friday amid reports that Microsoft Corp (NASDAQ:MSFT) is eying the former’s artificial intelligence chips for its cloud computing customers.

Azure’s cloud service could integrate AMD’s MI300X AI chips to beat Nvidia Corp’s (NASDAQ:NVDA) H100 GPU supply crisis.

Recent reports indicated that AMD is winning market share in the x86 processor market for client and server categories despite rivalry from Intel Corp (NASDAQ:INTC).

AMD grabbed Wall Street’s attention for its considerable gains in the server CPU market and the merchant accelerator sector with the Mi300 series, positioning it as a formidable competitor to Nvidia in the merchant accelerators market. Wall Street analysts highlighted a long-term upside of over $10 billion in revenue synergies from the Xilinx acquisition.

Meanwhile, AMD is gearing up to meet the increasing demand for AI computing by leveraging its broad product lineup. CTO Mark Papermaster recently pointed to AMD’s robust suite of compute engines, deep customer relationships across various markets, and open software capabilities.

Papermaster revealed that AMD would make significant announcements at Computex. He also shared that AMD’s R&D investment has almost quadrupled, from $1.5 billion in 2019 to $5.9 billion in 2023, to meet escalating performance and efficiency demands.

AMD stock gained 57% in the last 12 months. Investors can gain exposure to the stock via the AOT Growth And Innovation ETF (NASDAQ:AOTG) and the Spear Alpha ETF (NASDAQ:SPRX).

Price Actions: AMD shares traded higher by 2.57% at $166.79 at the last check on Friday.

Photo courtesy of AMD

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This article What’s Going On With AMD Stock Friday? originally appeared on Benzinga.com

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