New York, Feb 22, 2026, 10:46 EST — The market has closed.
- AMD slipped 1.6% to close at $200.15 on Friday, falling behind gains in the S&P 500.
- AMD’s general counsel sold a modest number of shares, according to a regulatory filing, as part of a pre-arranged trading plan.
- Nvidia’s earnings, due Feb. 25, are next up as traders parse the outlook for AI-chip demand.
Shares of Advanced Micro Devices (AMD.O) finished Friday’s session 1.6% lower at $200.15. The stock saw intraday moves from $198.64 to as high as $204.80, with roughly 36.3 million shares traded.
With the drop, AMD enters Monday under the shadow of investor focus on Nvidia’s upcoming results—questions still swirling about appetite for AI hardware and if prices are overshooting reality.
That’s suddenly crucial, with the AI trade showing signs of nerves. Reuters’ Wall Street Week Ahead column singled out Nvidia’s Wednesday earnings as the next test for stocks already unsettled by AI themes and new questions over U.S. trade policy, after the Supreme Court struck down President Donald Trump’s broad tariffs. “It’s hard for Nvidia to surprise when everyone expects it to surprise,” Empower chief investment strategist Marta Norton told the column. 1
The broader market looked steadier Friday than AMD’s action indicated. S&P 500 finished up 0.69%, the Dow picked up 0.47%—stocks mostly higher across the board. Chip stocks diverged: Lam Research surged 3.17%, while AMD lagged behind several sector peers mentioned in the same market wrap. 2
Ava Hahn, who serves as senior vice president, general counsel and corporate secretary at AMD, sold 286 shares at $198.65 each on Feb. 18, according to a Friday filing on the company’s investor relations site. The transaction, as detailed in the filing, took place under a Rule 10b5-1 plan set up on June 2, 2025. 3
AMD shares have been twitchy as investors gauge how fast the company can translate AI demand into actual revenue. Back at the start of the month, AMD projected first-quarter revenue near $9.8 billion, give or take $300 million, and disclosed $390 million in China AI chip sales—those cleared under a U.S. license. The guidance wiped 13% off the stock on Feb. 4. Bernstein’s Stacy Rasgon summed it up, saying the short-term AI figures “are not really inflecting.” 4
Late last week, AMD caught some notice following a Reuters report that it’s backing a $300 million loan guarantee for Crusoe, a cloud computing startup looking to purchase and roll out AMD’s AI chips. That report, citing The Information, noted that AMD hadn’t responded to Reuters’ request for comment. 5
AMD investors face a straightforward threat here: should Nvidia’s guidance or CEO remarks fall short of calming concerns around hefty AI data-center investments, selling pressure could ripple fast through chip stocks. On top of that, semiconductors remain vulnerable to trade headlines, caught as they are in the web of global supply chains and shifting export regulations.
Nvidia’s quarterly results drop after the U.S. market wraps up on Wednesday, Feb. 25. The company’s conference call is scheduled for 5 p.m. ET the same day. 6
