Why is AMD stock gaining 4% today?

AMD stock rose on Tuesday after the chipmaker announced a $1 billion investment in Meta's equity offering alongside an expansion of their partnership to develop computing infrastructure for artificial intelligence workloads. Shares of Advanced Micro Devices (NASDAQ: AMD) gained more than 4% during the session, as investors assessed the implications of the agreement and analyst expectations ahead of the company's third-quarter results, scheduled for November 3.