Yahoo Finance Trending tickers: AMD | Rivian | C3.ai | Frasers
The latest investor updates on stocks that are trending on Thursday
AMD (AMD)
Shares in Advanced Micro Devices (AMD) were higher in extended trading as the company announced an AI chip in a bid to challenge Nvidia’s (NVDA) dominance of the market.
AMD announced two new AI data center chips from its MI300 lineup — one focused on generative AI applications, and a second chip geared toward supercomputers.
CEO Lisa Su said the market for AI chips could top $400bn (£318bn) by 2027.
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Analysts estimate that Nvidia has captured roughly 80% of the AI chip market. Its H100 chip has dominated, with demand outstripping supply as companies including Amazon (AMZN), Meta (META), Microsoft (MSFT) and Alphabet (GOOG) use them to develop generative AI tools.
However, Meta, OpenAI, and Microsoft said they will use AMD’s newest AI chip, as tech companies want alternatives to the expensive Nvidia graphics processors.
Rivian (RIVN)
Rivian Automotive shares popped in extended trading after the electric vehicle (EV) maker announced plans to lower production costs.
The company’s CEO said Rivian will introduce a new simplified battery pack structure that "takes thousands of dollars of costs out [and] is much easier to manufacture and build as well."
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Investors are hoping that would mean a more attractive selling price that would bring in more buyers. Currently, both the R1T pickup and R1S SUV start at selling prices of between $70,000 and $80,000.
Rivian’s CEO RJ Scaringe has previously said that the company is aiming for a 10% EV market share by 2030.
C3.ai (AI)
Shares in C3.ai slid by almost 10% in extended trading after the artificial intelligence company posted underwhelming quarterly results.
For the third quarter, C3.ai said it lost 13 cents per share on an adjusted basis. That compared with an 11-cent loss a year earlier.
Revenue rose 17% to $73.2m as Wall Street analysts predicted a loss of 18 cents a share on revenue of $74.3m.
The fiscal-year loss from operations, excluding some items, will be as much as $135m, C3.ai said. Analysts, on average, estimated a loss of $87.6m for the year, which ends in April.
"We are seeing a return to accelerating revenue growth as we continue our transition to a consumption-based pricing model," said chief executive Thomas Siebel in the earnings release.
Frasers (FRAS.L)
Shares in Sports Direct’s parent company Frasers were higher after the group said it expects lucrative growth in 2025 and beyond.
Group revenues increased by 4.4% to £2.77bn for the six months to 29 October, compared with the same month last year.
Meanwhile, adjusted pre-tax profits increased by 12.6% year-on-year to £303.8m as strong profitability from Sports Direct helped to offset lower profits from the sale of properties.
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Frasers has focused on improving brand partnerships through the strategy, as well as seeking to grow its premium business, with acquisitions and the opening of more stores under its Flannels brand.
Revenue in the group’s premium arm was 3.1% higher for the half as recently-bought brands helped to offset House of Frasers store closures.
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