Stock Market Today, Nov. 11: Advanced Micro Devices Jumps — and Not Only Because of CoreWeave’s Results
AMD Advanced Micro Devices
$552.90+$37.69 (+7.32%)
NASDAQ · As of 4:00 PM ET 11/11/26
Advanced Micro Devices (AMD +7.32%), a major semiconductor player, closed at $552.90, up 7.32%. Shares rose after solid results from CoreWeave pointed to continued demand for advanced computing chips. Goldman Sachs also named AMD as one of three attractive semiconductor stocks amid the broader sell-off. Trading volume reached 42.5 million shares, coming in about 83% above its three-month average of 23.2 million shares.
How the markets moved today
The S&P 500 rose 1.31% to 7,619, while the Nasdaq Composite gained 1.60% to 25,466. Among chipmakers, Nvidia (NVDA +2.87%) closed at $173.73, up 2.92%, and Intel (INTC +7.52%) closed at $62.50, up 7.52%.
What this means for investors
AMD stock gained today as chip stocks started to put the post-election sell-off behind them. The stock has risen 36.99% since Nov. 6, as investors look for opportunities in the artificial intelligence (AI) sector. Its recent earnings beat analyst expectations, with Q3 revenue up 45% year-on-year to a record $13.4 billion. It also guided fourth-quarter revenue to about $17 billion, predicting that server and center revenue will expand further.
CoreWeave’s results are just one of several signs that demand for advanced computing chips will continue to grow. Another is this week’s cloud deal with Alphabet (GOOGL +2.11%)‘s Google, which will see AMD’s 5th-gen EPYC chips powering its cloud Tensor Processing Unit (TPU). AMD is also named as a key investor in Anthropic’s IPO prospectus.
For investors, AMD is well-positioned to benefit from increased AI chip demand, particularly if Nvidia’s recent difficulties continue. There is a risk that political shifts or other factors hamper the AI buildout and AMD will be susceptible to wider AI jitters. However, AMD’s diversified business, strong leadership, and competitive market position could make it a long-term AI winner.
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Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Goldman Sachs Group, Intel, and Nvidia. The Motley Fool has a disclosure policy.
