Shares of Advanced Micro Devices Inc. (NASDAQ: AMD) were inclining in the Current Market? Why did it happen?

Advanced Micro Devices Inc. (NASDAQ: AMD) stock is rising in the current market after announcing its updates. AMD stock is currently valued at $90.49, gaining more than 1% from the previous close. AMD stock previously closed at $89.85 with a trading volume of 95.49 million shares.

Global Semiconductor Industry Dynamics

Advanced Micro Devices Inc. (NASDAQ: AMD) is a player in the semiconductor industry and has been growing rapidly over the past couple of years. Although NVIDIA, its major rival in the industry, has held more than 80% of the market share, AMD still has managed to get 17% of the market share.

The spike in demand for semiconductors has been due to the massive increase in the usage of consumer electronic devices. After the covid-19, the need for the semiconductors has massively increased. Other factors include household income, no of users, and the increase in AI and the internet of things.

The global semiconductor market size was around $550 billion in 2021. According to the stats, the forecasts shows that the worldwide semiconductor industry will be worth around $820 billion in 2028, with a compound annual growth rate of 5.3%.

AMD: Latest Developments

AMD stated on April 20, 2022, that the new Oracle Cloud Infrastructure (OCI) E4 Dense instances would be powered by AMD EPYC processors. A hybrid cloud based on VMware workloads is now possible with these new instances, part of the Oracle Cloud VMware Solution solutions.

On April 19, AMD demonstrated how its EPYC processors helped Mercedes-AMG Petronas win its eighth Constructors’ Championship in the 2021 racing season by increasing aerodynamics testing performance. The team was able to boost computational fluid dynamics (CFD) workloads used to simulate and evaluate the aerodynamic flow of their F1 vehicle by 20% by utilizing AMD EPYC processors.

AMD: Upcoming Events

AMD announced on April 14, 2022, that they will release their results for the first quarter of 2022 on Tuesday, May 3, 2022. The the announcement date of results is May 3, 2022. Its management will host a conference call to discuss the corporate updates with investors. The timings of the conference call are 5:00 p.p. EST/ 2:00 p.m. PST.