On October 2, Advanced Micro Devices rose 3.09% in pre-market trading, trading at $634.70/share, with turnover of approximately $298 million. The stock continues to gain on the back of AMD's blockbuster announcement to acquire AI startup World Labs in an all-stock deal valued at roughly $8.2 billion.

The acquisition, first disclosed on September 28, will bring AI pioneer Fei-Fei Li into AMD's executive ranks as Executive Vice President and Chief Scientist, reporting directly to CEO Lisa Su. World Labs specializes in spatial intelligence and physical-world AI, and the deal marks AMD's formal push into next-generation AI domains aimed at internalizing model research capabilities as a chip design driver to compete head-on with NVIDIA. Bank of America previously raised its price target on AMD from $620 to $720, while Rosenblatt maintained a Buy rating, citing the deal's potential to bolster AMD's AI software and systems capabilities.

Within the Semiconductor sector, the broader group is trading higher. Among peers, Intel is up 3.32%, NVIDIA up 2.23%, Marvell Technology up 3.85%, Broadcom up 1.87%, and Micron Technology up 1.26%, providing additional sector-level support.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)