Image source: AMD.
Shares of Advanced Micro Devices (NASDAQ: AMD) surged on Tuesday after a rumor emerged that AMD and Intel (NASDAQ: INTC) had signed a deal involving AMD’s Radeon graphics technology. AMD stock was up about 9.9% at 3 p.m. EST, while Intel stock was up about 1%.
The rumors of a deal between AMD and Intel first emerged in a forum post from Kyle Bennett, chief editor at HardOCP. According to Bennett, Intel is licensing AMD’s graphics technology with plans to integrate it into future processors.