AMD Stock Dips Despite Valve Partnership for New Steam Machine
Advanced Micro Devices (AMD) shares fell 1.36% on Thursday despite announcing a collaboration with Valve to supply Zen 4 processors for the upcoming Steam Machine. The partnership builds on AMD's existing role as component supplier for Valve's Steam Deck, which has shipped approximately 4 million units.
Valve's previous Steam Machine venture a decade ago failed to gain traction, but the company now commands a dominant position in PC gaming through its Steam platform. Competitors including Microsoft, Amazon, and Epic Games have all failed to challenge Steam's market position.
AMD maintains strategic partnerships across the gaming industry, providing chips for both Microsoft's Xbox and Sony's PlayStation consoles. Nintendo remains the notable exception, relying on Nvidia for its Switch hardware.
