AMD soars after Google, Twitter say they're using its new chips
AMD shares were surging, up more than 15 percent on Thursday, after Google and Twitter said they have adopted the chipmaker's second-generation Epyc data-center chips.
Microsoft, Dell Technologies and VMware were already using the technology.
"Today, we set a new standard for the modern datacenter with the launch of our 2nd Gen AMD EPYC processors that deliver record-setting performance and significantly lower total cost of ownership across a broad set of workloads,” AMD President and CEO Lisa Su said.
“Adoption of our new leadership server processors is accelerating with multiple new enterprise, cloud and HPC customers choosing EPYC processors to meet their most demanding server computing needs."
The new 7 nanometer chips, dubbed "Rome," will continue to help AMD take a share in the data-center space, according to Nomura Instinet analyst David Wong.
"We think that ramping shipments of Rome will drive continued market share gains for AMD through the rest of 2019 and through 2020," he wrote. Wong reiterated his "buy" rating and $37 price target.
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Including Thursday's gain, AMD shares were up more 83 percent this year, trading near $34 a share.