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Shares of computer processor maker AMD (NASDAQ:AMD) fell 7.4% in the pre-market session after the company provided fourth-quarter results with revenue guidance for the next quarter falling below Wall Street's expectations.
The boom in generative AI over the past year exposed just how dependent big tech companies had become on Nvidia. They cannot build chatbots and other AI systems without a special kind of chip that Nvidia has mastered over the past several years. They have spent billions of dollars on Nvidia s systems, and the chipmaker has not kept up with the demand.