AI and chip stocks mixed as AMD soars on OpenAI Deal

Snowflake

06/10/2025 14:11

** Shares of U.S.-listed companies tied to artificial intelligence and semiconductors mixed in premarket trade after AMD AMD.O announced a major chip-supply deal with OpenAI, which sent its stock sharply higher

** AMD up 36%

** Agreement includes OpenAI's option to buy up to 10% of AMD through warrants, raising concerns about future demand for rival chipmakers like Nvidia NVDA.O and Broadcom AVGO.O which were down between 1.5%-2%

** Other AI-linked stocks edged higher as investors reassessed leadership in the race to power next-generation artificial intelligence infrastructure

** Shares of AI-linked firms rose in premarket trade, with Palantir Technologies PLTR.O  up 2.5%, Salesforce CRM.N gaining 1.7%, Oracle ORCL.N rising 2.7%, and Snowflake SNOW.N up 1.5%

** U.S.-listed shares of Taiwan Semiconductor Manufacturing and Arm Holdings ARM.O up 2.4%

** AI server maker Super Micro Computer SMCI.O up almost 3%

** Marvell Technology MRVL.O up 2.4%, Qualcomm QCOM.O marginally up, Applied Materials AMAT.O up 2.8%

** Philadelphia SE Semiconductor index .SOX, which touched a record high last week, has risen more than 30% this year

 (Reporting by Rashika Singh in Bengaluru)

 ((Rashika.Singh@thomsonreuters.com;))