Stock Market Today, Nov. 9: AMD Jumps on Oppenheimer Upgrade and Google Cloud Chip Selection
Today, Nov. 9, 2026, shares of AI-focused chip designers faced a crucial week as investors weigh data-center demand ahead of next week's sector earnings.
On November 9, Advanced Micro Devices (AMD) experienced a significant jump in stock price, closing at $508.58, a 13.26% increase. This surge was driven by an upgrade from Oppenheimer, which now rates AMD as an "outperform" stock with a $600 per share target, representing an 18% rise from the current level. The boost in AMD's share price was further fueled by Google Cloud's selection of AMD's fifth-generation EPYC CPUs for its Tensor Processing Unit (TPU) 8tx, which enables hardware-enforced confidential computing for the company's cloud AI systems.
Investors are closely monitoring the demand for AI data centers and the upcoming chip-sector earnings next week. AMD's stock performance was bolstered by a 97% year-over-year revenue increase in the Q3 report for its data center segment, suggesting strong growth in AI-related revenue. The company's outlook in the AI sector has improved, with guidance predicting a 80% revenue growth in the coming year.
AMD's gains come amid an uneven trading day for semiconductor rivals, with Nvidia's stock down 4.27% to close at $178.67, while Intel rose 5.49% to $59.37. The overall market sentiment was positive, with the S&P 500 closing at 7,556, up 2.43%, and the Nasdaq Composite at 25,253, up 2.74%. Trading volume for AMD shares reached 50.7 million, nearly triple its three-month average of 22.8 million shares, indicating heightened investor interest.
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