Shares of Advanced Micro Devices (AMD) extended their recovery for a second consecutive session on Monday, November 9, surging 12.5% to an intraday high of $504.80 apiece.
The rally came after the Nvidia rival announced that its fifth-generation EPYC server processors would power Alphabet's Google Cloud TPU 8tx systems.
The collaboration brings together AMD's EPYC central processing units (CPUs), Infinity Guard security capabilities, and x86 software compatibility with Google's TPU AI acceleration technology, as per company's release.
The partnership is aimed at helping enterprises deploy sensitive AI workloads, including inference, fine-tuning, and reinforcement learning, in the cloud while maintaining data protection.
The announcement comes as technology companies increasingly invest in specialised AI infrastructure to support the growing demand for advanced AI models and applications.