Nvidia was gaining early on Wednesday after Google-parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 0.

Advanced Micro Devices (AMD) will release its fourth-quarter 2024 financial results on 4. As leading tech firms ramp up investments in custom chip development, industry analysts are questioning whether this shift will bolster companies like Broadcom while eroding AMD’s position in the AI infrastructure market.

By Kanchana Chakravarty and Zaheer Kachwala (Reuters) -Advanced Micro Devices shares tumbled 8% on Wednesday after the company's AI chip revenue failed to meet analysts' high expectations, underscoring its struggle to grab market share from well-entrenched market leader Nvidia.