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AMD slides as Wall Street warns of growing AI chip gap with rival Nvidia

AMD shares are down 41% over the past year.

Nia Warfield

Advanced Micro Devices shares slid nearly 4% Thursday morning after a Wall Street downgrade raised concerns about the chipmaker’s ability to keep up with rivals.

Jefferies analyst Blayne Curtis cut his rating on AMD to “hold” from “buy” on Thursday and slashed the price target to $120 from $135, implying 12% upside from current levels. He flagged the growing performance gap between AMD and Nvidia, especially when it comes to Nvidia’s powerhouse AI chip, the Hopper GPU.

“Our proprietary benchmarking shows Nvidia’s H200 outperforms AMD’s MI300x across a range of open-source models, despite AMD’s chip boasting higher advertised TFLOPs and memory bandwidth,” Curtis wrote.

Adding to concerns: Nvidia is already replacing the H200 with its more powerful Blackwell processors, with even more advanced Rubin chips on the way — potentially making it even harder for AMD to catch up.

AMD has been riding the AI boom, with data center sales surging 69% last quarter to a record $3.9 billion. But competition isn’t just coming from Nvidia; Intel is also making strategic shifts under new leadership, and AI companies are working on their own in-house chips.

AMD shares are down 41% over the past year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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