AP Photo / Matthias Rietschel
- Chipmaker Advanced Micro Devices quietly presented its AMD Radeon RX 5300, an entry-level card for games.
- AMD shares even rose 8% on Monday.
- The card is a competitor for a similar Nvidia product.
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Advanced Micro Devices shares rose as much as 8% Monday after the company quietly launched a new entry-level graphics card to compete with Nvidia.
At the weekend, AMD put the Radeon RX 5300 GPU graphics card on its website without further notice. The card is a competitor of the GeForce GTX 1
The start under the radar comes after the semiconductor company beat analysts’ estimates when it reported better-than-expected results in July, boosted by sales of notebooks and server processors. In addition, AMD has raised its forecast for the current quarter and is confident of being able to meet the strong demand.
AMD rebounded over the course of 2020 – stocks have risen up to 99% since the start of the year.
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