Advanced Micro Devices Slides as Nvidia Steals AI Spotlight

Advanced Micro Devices ( (AMD) ) has fallen by -7.42%. Read on to learn why.

Advanced Micro Devices shares slipped 7.42% over the past week, as investors weighed fresh product news and a sharp comparison with rival Nvidia. At the Consumer Electronics Show 2026, AMD highlighted its strength in handheld gaming chips and pushed back against Intel’s criticism that its portable gaming CPUs are “ancient silicon,” arguing Intel’s upcoming Panther Lake design carries architectural “baggage” that could hurt handheld performance. Despite this public defense of its gaming edge and continued momentum in dedicated handheld chips, the stock drifted lower, with daily trading volumes running well below recent averages.

The pullback also reflected a cooler market reaction to AMD’s AI roadmap relative to Nvidia’s. Morgan Stanley analyst Joseph Moore came away from CES notably more enthusiastic about Nvidia’s new Rubin AI platform, which he said “raises the bar” in GPUs, CPUs, networking, and software, and is already ramping toward volume production. By contrast, AMD’s CES updates offered little new information on its next‑generation MI450 AI GPUs, even as the company stressed a growing ecosystem and a strong production ramp later in 2026, anchored by OpenAI as a key customer. Moore currently rates Nvidia a Buy while keeping AMD at Hold, underscoring that AMD must innovate faster to keep pace in the AI chip race.

At the same time, AMD unveiled the Ryzen 7 9850X3D, a new high-end gaming CPU that it claims will be the fastest on the market, delivering about 7% better gaming performance than the current Ryzen 7 9800X3D and boosting up to 5.6 GHz. However, with no firm launch date or pricing beyond expectations it will sit above the 9800X3D’s $479 level, the announcement wasn’t enough to offset broader concerns about competition in AI and semiconductors. Even after this week’s 7.42% slide, Wall Street remains broadly constructive: analysts rate Advanced Micro Devices a Buy to Strong Buy, with consensus price targets implying sizable upside from current levels for investors willing to ride out near‑term volatility.