Advanced Micro Devices stock (NASDAQ:AMD) increased by more than 4% during Tuesday's trading session and has risen by nearly 20% over the last month. What factors are contributing to the stock's upward trend?

AMD said on Wednesday that its board of directors approved $6 billion in share buybacks. The stock climbed 8%. The authorization is in addition to $4 billion in existing approved share repurchases, the company said.

Newly launched Saudi Arabian AI venture Humain plans to deploy 500MW of data center compute over the next five years featuring AMD hardware. Together, sovereign-backed Humain and AMD will invest $10 billion in the joint effort, which will see facilities built in both Saudi Arabia and the US.

Advanced Micro Devices remains undervalued at 18x 2026 EPS, with strong AI prospects and a recent 60% rebound from lows. Check out my analysis of AMD stock.

Nvidia and Advanced Micro Devices (AMD) have partnered with Saudi Arabian AI company Humain to supply semiconductors for a large-scale data centre project. Humain, a subsidiary of Saudi Arabia's Public Investment Fund,

Advanced Micro Devices, Inc. AMD is ruling the data center sector, and is giving stiff competition to NVIDIA Corporation NVDA by acquiring some of its major clients. Now, with AMD inking a deal with Saudi Arabia’s Humain,

U.S. tech giants including Nvidia, AMD, and Qualcomm have signed major AI deals with Saudi Arabia's new startup Humain, backed by the kingdom's sovereign wealth fund. The agreements coincide with former President Donald Trump securing $600 billion in investment commitments during his Middle East tour.

AMD's latest buyback brings its total repurchase authorization to about $10 billion. The announcement follows a $10 billion AI collaboration deal with Middle Eastern firm Humain, revealed just one day earlier.