CNBC
By Jessica Bursztynsky – November 8, 2021
AMD shares jumped more than 11% on Monday after the company announced it won Meta, formerly known as Facebook, as a chip customer.
AMD also revealed a range of new chips during the keynote of company’s Accelerated Data Center Premiere event.
The announcements help cement the company’s push against its competitors. AMD is in the process of taking market share from market leader Intel as cloud providers like Microsoft, Amazon and Google buy its chips to run their services. AMD has gained some performance advantages over competing Intel processors in recent years.