AMD Stock Gains on Xanadu Quantum Technologies Partnership

2026-03-10 16:49:32

Abstract generation in progress

Advanced Micro Devices AMD +0.90% ▲ stock was up on Tuesday after the semiconductor company announced an agreement with photonic quantum computing company Xanadu Quantum Technologies. This partnership has allowed Xanadu Quantum Technologies to utilize its PennyLane quantum software on AMD’s DevCloud for advanced aerospace simulations.

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Xanadu Quantum Technologies said that its partnership has allowed for the execution of a Computational Fluid Dynamics (CFD) model with 256×256 matrix elements. This required 20 qubits and approximately 35 million quantum gates. With AMD’s technology, the company can optimize design and enhance aircraft efficiency.

Madhu Rangarajan, Corporate Vice President of Compute and Enterprise AI at AMD, said, “Seeing AMD high-performance compute boost the performance of PennyLane is a clear proof point of how quantum and classical technologies can effectively work together. This work further underscores the importance of seamless integration between classical and quantum computing. The work between AMD and Xanadu expands the boundaries of what is possible for users investigating hybrid quantum/classical computing using AMD compute today.”

AMD Stock Movement Today

AMD stock was up 1.73% on Tuesday but was still down 4.82% year-to-date. Investors will also note that AMD shares have rallied 109.47% over the past 12 months. AMD’s gains over the past year are largely tied to the AI boom, which has increased demand for its PC components.

AMD stock trading activity today saw some 8.9 million shares change hands. To put that in perspective, the company’s three-month average daily trading volume is about 38.62 million shares.

Is AMD Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for AMD is Moderate Buy, based on 23 Buy and eight Hold ratings over the past three months. With that comes an average AMD stock price target of $286.04, representing a potential 39.42% upside for the shares.

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