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AMD Shares Rise After Inking New Strategic Partnership With Samsung

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AMD Shares Rise After Inking New Strategic Partnership With Samsung

Advanced Micro Devices, Inc. (NASDAQ: AMD) rallied after announcing a strategic partnership in which Samsung will license AMD graphics IP.

AMD will license custom graphics IP-based on the RDNA graphics architecture to Samsung for use in mobile devices, including smartphones and other products that complement AMD product offerings. In turn, Samsung will pay AMD license fees and royalties.

“Adoption of our Radeon graphics technologies across the PC, game console, cloud and HPC markets has grown significantly and we are thrilled to now partner with industry leader Samsung to accelerate graphics innovation in the mobile market,” said AMD CEO Lisa Su. “This strategic partnership will extend the reach of our high-performance Radeon graphics into the mobile market, significantly expanding the Radeon user base and development ecosystem."

AMD's stock traded higher by 6.5 percent at $29.21 per share Monday morning.

Related Links:

Analysts Impressed With AMD's Execution, Pipeline Following Solid Q1 Results

A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

 

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