AMD and Intel shares slide as tech stocks fall on inflation and Nvidia leadership concerns

AMD and Intel shares fell sharply on Friday, with AMD dropping over 9% and Intel losing about 6%, as tech stocks declined amid investor concerns over inflation data and uncertainty surrounding Nvidia's leadership. The broader market also suffered, with the S&P 500 down about 0.73% and the Nasdaq Composite losing over 1.2%. Nvidia fell 3% following reports of a possible CEO departure. Despite the selloff, analysts remain positive on AMD's competitive position in the AI chip market, citing its growing product portfolio and expanding data center operations. Analysts see AMD gaining credibility as an alternative to Nvidia, with data center revenue expected to exceed 80% of total sales by 2027. Counterpoint Research projects AMD's data center revenue could reach $77 billion in 2027, while the company's fourth-quarter revenue guidance of about $17 billion exceeded consensus estimates by roughly $800 million.