AMD rises even as Microsoft spokesperson denies Athena involvement
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AMD (NASDAQ:AMD) shares erased pre-market losses and rose 1% in early trading on Friday even as a Microsoft (NASDAQ:MSFT) spokesman said the company is not involved in the development of its own processor.
Microsoft spokesman Frank Shaw told The Verge that AMD (AMD) is not involved in the development of Athena, the internal codeword for Microsoft's (MSFT) project to build a processor for artificial intelligence applications.
Shaw did not say anything whether Microsoft (MSFT) was working with AMD (AMD) to help finance a further push into AI processors.
On Thursday, it was reported that Microsoft (MSFT) was working with AMD to push into AI processors, a notion that some investors and media questioned the validity of. AMD (AMD) shares soared following the report.
Nvidia (NVDA), widely regarded as the leader in AI processors, due in part to its H100 chips, rebounded on Friday following the denial.
Microsoft (MSFT) shares rose fractionally in pre-market trading on Friday.
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