AMD Stock Surges on Quantum Computing Breakthrough and AI Expansion
Advanced Micro Devices Inc. shares rallied nearly 8% following revelations of IBM's quantum computing breakthrough using AMD chips. The semiconductor giant's field-programmable gate array technology successfully ran real-time quantum error correction algorithms—a critical milestone toward practical quantum systems.
IBM confirmed plans to deploy AMD hardware in its forthcoming large-scale quantum computer, targeting a 2029 launch. This partnership builds on August's collaboration announcement, with both companies' stocks gaining 8% on the news.
The quantum advancement follows AMD's recent string of AI victories, including GPU supply deals with OpenAI and Oracle. Second-quarter revenue surged 32% year-over-year to $7.69 billion, propelling shares to a record $243.11—a 90% year-to-date gain.
