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Advanced Micro Devices Stock Climbs on Alibaba Partnership

Shares of Advanced Micro Devices were climbing on news that Alibaba plans to use its Radeon Pro technology.

Shares of Advanced Micro Devices (AMD) - Get Advanced Micro Devices, Inc. Report are higher Friday after Chinese e-commerce giant Alibaba (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report said it plans to use the chipmaker's Radeon Pro technology for its cloud services. Shares of Alibaba were also higher. Advanced Micro Devices CEO Lisa Su says the company is "working closely with industry leaders like Alibaba Cloud" to help "ensure the investments AMD is making in high-performance graphics and computing data center products continue to align with the needs of the broader cloud market."  AMD shares now have more than doubled in 2016.

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