Intel ( INTC) has denied a previous report that it would license Advanced Micro Devies' ( AMD) graphics processing unit.
"The recent rumors that Intel has licensed AMD's graphics technology are untrue," an Intel spokesperson said.
On Tuesday shares of AMD rose over 10% on a Fudzilla report that Intel had opted to sign a licensing agreeing with AMD after its previous deal with Nvidia ( NVDA) expired in March.
Shares of AMD were lower nearly 3% during the first hour of trading on Thursday.
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