Advanced Micro Devices Shares Surge 7.63% After Quantum Computing Breakthrough
Advanced Micro Devices saw a significant rise on Friday, October 24, in the U.S. markets, following well-received technological announcements. The California-based semiconductor giant closed at $252.92, marking an increase of 7.63% for the session. This boost is part of a strong week for the stock.
AMD's Stock Performance
AMD's stock closed at $252.92 on October 24, registering a net gain of 7.63%. Trading volume reached 70.5 million shares, accounting for 4.34% of the market capitalization, reflecting significant trader mobilization. Over the past year, the stock has shown a 64.83% increase, significantly outperforming the S&P 500, which advanced 18.33%. This more than 45 percentage point gap illustrates the stock's unique momentum in 2025. This week, AMD recorded an 8.51% increase, ranking among the best performances in the technology sector. The S&P 500 only moved up by 0.36% on Friday, confirming that AMD's progress is due to specific factors relating to the stock and its sector rather than a general market trend.
Significant Announcement in Quantum Computing
Friday's sharp rise can be attributed to a major announcement in the field of quantum computing. IBM revealed its ability to execute a key quantum error correction algorithm using Advanced Micro Devices' FPGA chips, marking a significant technological milestone towards the commercialization of quantum computers. This demonstration also boosted IBM, which surged 7.88%, marking its best session since January. Both companies had announced a strategic partnership in August aimed at developing solutions that combine their respective technologies. IBM plans to launch a quantum computer by 2029, a timeline that reinvigorates investor interest in the sector. This announcement comes amid heightened competition among tech giants. Alphabet, Microsoft, and Amazon are heavily investing to achieve the first truly operational system, each unveiling new prototypes in recent months. The movement has spread across the quantum sector: D-Wave Quantum, Rigetti Computing, and IonQ also saw gains on Friday. The Philadelphia Semiconductor Index advanced 1.9%, reaching a new record at close.
