AMD Soars Nearly 7% on Monday After Announcing MEXT Acquisition to Address Memory Costs

According to Barron's, AMD soared nearly 7% on Monday (June 15), closing at $547.26 per share, after announcing its completed acquisition of MEXT, a company specializing in memory optimization technology. The deal aims to address escalating memory costs impacting the broader digital economy. MEXT develops AI software for lower-cost flash memory storage solutions. AMD stated the acquisition will expand its AI product portfolio and help data center customers reduce total cost of ownership and improve system performance.
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