Advanced Micro Devices fell approximately 5.7% in Wednesday's regular-session trading as a broader AI-chip selloff overshadowed its new infrastructure partnership with Core Scientific. The companies announced that AMD would secure more than 500 megawatts of U.S. capacity for customer deployments beginning in 2027, with the potential to expand the arrangement to 2.5 gigawatts. Initial 15-year agreements cover approximately 530 megawatts across five sites and could provide Core Scientific with more than $14 billion in base contracted revenue. The Philadelphia Semiconductor Index declined 1.6% during early trading, reflecting investor concerns about AI returns despite strong industry earnings.
Core Scientific, Inc. Common StockCore Scientific announced a 15-year deal with AMD for up to 2.5 GW capacity, providing over $14 billion in base contracted revenue.
Advanced Micro Devices IncAMD stock fell 5.7% due to broader AI-chip selloff on investor concerns about AI returns, despite a large infrastructure deal.