Overview
- Advanced Micro Devices fell 5.6% as of 3 p.m. ET Thursday, outpacing losses in major indexes.
- The S&P 500 declined 0.8% and the Nasdaq Composite dropped 1.3% during the session.
- Challenger, Gray & Christmas reported more than 150,000 U.S. job cuts in October, with reductions tied to cost-cutting and AI-driven efficiencies.
- Market commentary highlighted growing caution toward stretched, growth-dependent valuations for AI-related stocks.
- Despite the pullback, AMD shares have doubled in 2025 trading, and the company has reportedly secured AI contracts with OpenAI and Amazon.