Amazon's Expanded AI Plan Lifts AMD Shares Amid Rising Bond Yields

Advanced Micro Devices (AMD) shares rose approximately 0.9% on Friday as investors reacted to Amazon's (AMZN) expanded AI infrastructure plan. The e-commerce giant increased its planned capital expenditure for 2026 from $200 billion to $220 billion, a $20 billion boost.

This news comes after Microsoft's (MSFT) strong Azure forecast drove a broad semiconductor rally, with AMD shares climbing around 13% on Thursday. However, rising bond yields reduced the momentum in the technology sector, causing the gain to narrow.

AWS reported a 37% revenue growth, its fastest expansion in over four years, as customers reserved future cloud capacity. While Amazon designs Trainium processors internally, it also purchases externally supplied chips for AWS customers, which could benefit multiple semiconductor suppliers, including AMD.