Advanced Micro Devices rises as it unveils new Ryzen 7000 series CPUs, AM5 socket platform
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Advanced Micro Devices (NASDAQ:AMD) unveiled its new Ryzen 7000 series of processors on Monday night, including what it described as the "fastest core" in gaming.
The Ryzen 7000 CPUs will use the Zen 4 desktop processing architecture and be available starting September 27. 
The high-end Ryzen 9 7950X chip costs $699, while the Ryzen 9 7900X chip is priced at $549. The two lower tier CPUs, the AMD Ryzen 7 7700X and AMD Ryzen 5 7600X, are priced at $399 and $299, respectively.
In addition, the new CPUs have up to 16 cores, 32 threads and are optimized for high-performance, using Taiwan Semiconductor's (TSM) 5 nanometer process node. 
âWith the next generation Ryzen 7000 Series Desktop processors, we are proud to uphold our promise of leadership and continuous innovation, delivering the ultimate PC experience for gamers and creators alike," Saeid Moshkelani, senior vice president and general manager, Client business unit, AMD, said in a statement.
Advanced Micro Devices (AMD) shares rose slightly more than 1% to $89.65 in premarket trading on Tuesday following the news.
In addition to the new chips, which are expected to compete with offerings from Intel (INTC), AMD (AMD) also unveil the new AM5 socket platform. There are four new motherboards as part of the platform and they will be available at a starting price of $125, with support going until at least 2025.
Last week, UBS said both Nvidia (NVDA) and Advanced Micro Devices (AMD) have seen "consistently lower pricing" for their GPUs over the past few months, but the rate of decline has slowed down.