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Investing.com — AMD turned positive Thursday following a report that Third Point’s Dan Loeb, an activist investor, took a passive stake in the chipmaker, CNBC reported, citing unnamed sources.
Advanced Micro Devices (NASDAQ:AMD) was up 1.4% following the news.
Third Point took a stake in AMD when its shares were struggling, according to the report. But the chipmaker has seen its fortunes change since the start of the year after racking up a more than 20% gain.
