SANTA CLARA, Calif. — Shares of Advanced Micro Devices Inc. rose 3.48% to $510.59 in Tuesday trading, adding $17.18, as semiconductor stocks broadly clawed back a portion of the losses posted Monday, when a weekend essay calling for a slower pace of artificial intelligence development triggered a steep selloff across the chip sector.

AMD's gain builds on a modest recovery already underway Monday, when the stock closed up 1.34% at $500.00 following a volatile session earlier in the week. Tuesday's rebound came alongside broader strength in chip-related names globally, echoing similar recoveries in Asian markets, where previously battered technology stocks also regained ground after Monday's steep declines tied to the AI development debate sparked by Anthropic Chief Executive Officer Dario Amodei's essay over the weekend.

AMD's rebound comes against the backdrop of a notably bullish outlook the company laid out just days earlier at the Citi 2026 Global TMT Conference. Speaking at the event, AMD executives raised the company's estimate for the total addressable market for artificial intelligence, now projecting the opportunity could reach $2 trillion by 2030. The company also said it expects its data-center sales to approach $70 billion in 2027, roughly double the business size it anticipates for 2026, with AI accelerators alone expected to generate sales in the low $40 billion range next year. AMD executives further projected that the broader........

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