New York, Feb 22, 2026, 10:46 EST — Market closed.
- AMD ended Friday down 1.6% at $200.15, lagging a rising S&P 500.
- A regulatory filing showed a small share sale by AMD’s general counsel under a pre-set trading plan.
- Markets next look to Nvidia’s results on Feb. 25 for a read-through on AI-chip demand.
Advanced Micro Devices (AMD.O) shares closed down 1.6% on Friday at $200.15, after trading between $198.64 and $204.80, with about 36.3 million shares changing hands.
The slip leaves AMD heading into Monday’s session with investors again fixated on what Nvidia’s results will say about demand for AI hardware — and whether the market is paying too much for it.
That matters now because the AI trade has turned jumpy. Reuters’ Wall Street Week Ahead column flagged Nvidia’s Wednesday report as the next pressure point for stocks rattled by AI worries and fresh uncertainty over U.S. trade policy after the Supreme Court knocked down President Donald Trump’s sweeping tariffs. “It’s hard for Nvidia to surprise when everyone expects it to surprise,” Marta Norton, chief investment strategist at Empower, said in the column. (Reuters)
Friday’s broader tape was calmer than AMD’s move suggests. The S&P 500 rose 0.69% and the Dow added 0.47% in a broadly positive session, while some chip-related names gained even as AMD fell. Lam Research jumped 3.17% on the day, for instance, and AMD underperformed several peers cited in that same market wrap. (MarketWatch)
A filing posted on AMD’s investor relations site on Friday showed Ava Hahn, the company’s senior vice president, general counsel and corporate secretary, sold 286 shares at $198.65 on Feb. 18. The filing said the sale was made under a Rule 10b5-1 plan — a pre-arranged trading plan that sets conditions for share sales — adopted on June 2, 2025. (Advanced Micro Devices, Inc.)
AMD’s stock has been sensitive to questions about how quickly it can turn AI demand into near-term revenue. Earlier this month, AMD forecast first-quarter revenue of about $9.8 billion, plus or minus $300 million, and said China-bound AI chip sales approved under a U.S. license generated $390 million; the outlook helped send shares down 13% on Feb. 4. Bernstein analyst Stacy Rasgon wrote at the time that near-term AI numbers “are not really inflecting.” (Reuters)
AMD also drew attention late last week after Reuters reported that it was set to provide a $300 million loan guarantee for cloud computing startup Crusoe to buy and deploy AMD’s AI chips, citing a report by The Information. AMD did not immediately respond when contacted by Reuters, the report said. (Reuters)
The risk for AMD holders is the blunt one: if Nvidia’s outlook or CEO commentary fails to steady nerves about returns on big-ticket AI data-center spending, pressure can spread quickly across the chip complex. Trade headlines are another swing factor for semiconductors, which sit in the middle of global supply chains and export rules.
The next hard catalyst is Nvidia’s quarterly report on Wednesday, Feb. 25, after the U.S. market close. Nvidia has set a conference call for 5 p.m. ET that day. (Nvidia)
